Articles for tag: Arcadium, buy, join, lithium, miners, Rio, Tinto, top

October 10, 2024

Ron Finklestien

mining

Rio Tinto’s Strategic Move to Acquire Arcadium Elevates its Lithium Standing

A Game-Changing Acquisition Rio Tinto, the second-largest miner globally, has announced its acquisition of United States-based lithium company Arcadium for $5.85 per share—a substantial 90% premium over Arcadium’s recent stock closing price of $3.08 on October 4. Rio Tinto’s New Lithium Frontier By purchasing Arcadium, Rio Tinto sets its sights on becoming one of the top lithium producers worldwide, trailing only behind Albemarle and SQM. The deal will grant Rio Tinto access to lithium mines in Argentina and Australia, coupled with processing facilities spanning the US, China, Japan, and the UK. Notably, its client roster includes industry heavyweights like Tesla,

April 22, 2024

Ron Finklestien

mining

New Found grows portfolio with Labrador’s project buy

The transaction, which includes related mine assets, will be funded by New Found issuing LabGold a number of common shares in the company for C$20 million ($15m) divided by the closing price of the shares on the TSX Venture Exchange on the last trading day before the deal’s closing date. “Kingsway today is reminiscent of Queensway when New Found acquired the project back in 2016 with numerous early discoveries and large swaths of under explored structures that later evolved into significant mineralized zones,” New Found chief operating officer, Greg Matheson, said in the statement. The combined projects have a strike

January 23, 2024

Ron Finklestien

mining

Codelco’s Strategic Move into Lithium Market Codelco’s Strategic Move into Lithium Market

The Maricunga project, located within the so-called lithium triangle in northern Chile, is estimated to contain about 1.9 million tonnes of lithium carbonate equivalent (LCE). The transaction, which now only needs the Federal Court of Australia’s backing, is expected to conclude on Feb. 23, Codelco said. Chairman Máximo Pacheco expressed enthusiasm about the purchase, stating, “With this purchase, Codelco moves forward with its mandate of becoming leaders in the production of critical minerals for the energy transition.” Chile gave the copper giant a key role in the new public-private model for the sector, announced in April last year, which calls