- Arcadium Lithium (NYSE:ALTM), a global lithium miner, producer and chemicals manufacturer, is confirming that mining giant Rio Tinto (NYSE:RIO) has reached out about the potential for an acquisition
- The transaction would coincide with Arcadium’s ambitious growth plan through 2028
- Arcadium, market capitalization US$4.65 billion, is a global lithium company focused on lithium extraction and chemicals manufacturing for high performance applications
- Arcadium Lithium stock is up by 41.40 per cent on the news, trading at US$4.36 per share as of 9:56 am ET
Arcadium Lithium (NYSE:ALTM), a global lithium miner, producer and chemicals manufacturer, is confirming that mining giant Rio Tinto (NYSE:RIO) has reached out about the potential for an acquisition.
Negotiations are presently non-binding and Arcadium doesn’t intend to issue any further news releases unless discussions progress.
Rio Tinto, market capitalization US$139 billion, would benefit from the acquisition by diversifying its portfolio – which spans 35 countries and eight commodities – with a vertically integrated lithium manufacturer playing a leading role in the clean energy transition through operations in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States.
As revealed during the company’s 2024 investor day, Arcadium Lithium expects to grow revenue from US$1.4 billion in 2025 to US$2.7 billion in 2028, while growing adjusted EBITDA from US$525 million to US$1.3 billion over the period, supported by cost savings and production increases.
About Arcadium Lithium
Arcadium, market capitalization US$4.65 billion, is a global lithium company focused on lithium extraction, including hard-rock mining, conventional brine extraction and direct lithium extraction, as well as lithium chemicals manufacturing for high performance applications.
Arcadium Lithium stock (NYSE:ALTM) is up by 41.40 per cent on the news, trading at US$4.36 per share as of 9:56 am ET. The stock has given back 36.05 per cent since Allkem and Livent merged into the combined company in January 2024.
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(Top photo of Arcadium Lithium’s Olaroz lithium brine operation in Argentina: Arcadium Lithium)
