Rio Tinto confirms interest in buying Arcadium Lithium

Mining giant Rio Tinto has confirmed it’s interested in purchasing Arcadium Lithium. Global media has speculated the deal could be worth around $5.9 billion. Arcadium was only created last year, due to a merger between Allkem and Livent. The company has a range of projects across the world, but its share price has plunged due to a downturn in lithium prices. This price drop poses an opportunity for Rio Tinto, which has capital to deploy.