Rio Tinto to acquire Arcadium Lithium for $6.7bn.

Rio Tinto, a global mining group, agreed to acquire Arcadium Lithium, a lithium chemicals producer with an asset base of long-life, low-cost operations and growth projects, for $6.7bn. "Acquiring Arcadium Lithium is a significant step forward in Rio Tinto's long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition. Arcadium Lithium is an outstanding business today and we will bring our scale, development capabilities and financial strength to realise the full potential of its Tier 1 portfolio. This is a counter-cyclical expansion aligned with our disciplined capital allocation framework, increasing our exposure to a high-growth, attractive market at the right point in the cycle," Jakob Stausholm, Rio Tinto CEO.