A mega mining acquisition was confirmed for almost 7,000 million dollars, which impacts

A mega mining acquisition was confirmed for almost 7,000 million dollars, which impacts
A mega mining acquisition was confirmed for almost 7,000 million dollars, which impacts Argentina

The Anglo-Australian mining company Rio Tinto confirmed the purchase of Arcadium Lithium for $6.7 billion, consolidating its business in the global lithium market. The announcement was made this Wednesday, after the boards of directors of both companies approved the transaction.

The purchase of Arcadium is considered a strategic step for Rio Tinto, especially in the context of the growing demand for minerals critical to the global energy transition. The definition of the operation was closely followed by the sector at a global and local level, and the conclusion is for an amount that more than doubles the valuation estimates.

In economic terms, Rio Tinto will pay $5.85 per Arcadium share, representing a 90% premium over the closing price on October 4. This offer underscores the importance the company places on access to Arcadium’s assets, which are focused on one of the most promising lithium markets: .

At the moment, Arcadium operates two of the four active projects producing lithium carbonate in Argentinaa: the Olaroz project in Jujuy and the Fénix project in Catamarca. These assets represent an important portion of the country’s productive capacity, which has tripled in the last two years, according to data from the Argentine Chamber of Mining Companies (CAEM).

The acquisition of Arcadium not only strengthens Rio Tinto’s presence in Argentina, but also gives it access to mines and plants in strategic countries such as Australia, Canada and the United States. Additionally, Arcadium has a strong customer base that includes giants such as Tesla, BMW and General Motors, putting Rio Tinto in a prime position to capitalize on the growing demand for electric vehicles and batteries.

A nivel global, Analysts predict that the combination of Rio Tinto and Arcadium could account for around 10% of the global lithium chemical supply by 2030. This move is part of a broader strategy to ensure stable and competitive sources of lithium as the market faces supply constraints amid rising demand.

Raúl Jalil, the Catamarca governor, spoke about the operation: “It is good news because it is a company that exports aluminum, copper, and would add lithium to its production portfolio,” he said.

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