After the discussions, the transaction. Rio Tinto confirmed this Tuesday the purchase of Arcadium Lithium which owns half of Nemaska Lithium, a flagship project in the battery sector, into which Quebec plans to inject up to $425 million.
Posted at 11:58 a.m.
In this all-cash transaction, the mining giant advances $5.85 per share – valuing Arcadium at approximately $6.7 billion – an offer that represents a 90% premium to Arcadium’s October 4, 2024 closing price. .
Read “Rio Tinto targets key project”
In a communication to shareholders, Arcadium discusses the difficult economic context affecting the battery industry on a global scale: “We are also facing difficult market conditions, with the outlook for lithium prices remaining low. »
Arcadium says it is “very optimistic about the long-term prospects for lithium” but believes that Rio Tinto’s offer will have the effect of reducing the operational and financial risks specific to mining projects: “Rio Tinto, a company renowned for its size, its capabilities and global presence »
Jakob Stausholm, CEO of Rio Tinto, said the acquisition will enable the mining group to become a “world leader” supplying the materials needed for the energy transition, such as lithium, aluminum and copper.
“We will bring our size, our development capabilities and our financial strength to realize the full potential [du] Arcadium portfolio,” he said.
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