Investment screening approvals have also been granted in Australia, Canada, Italy, the UK, and the US, including clearance from Washington’s Committee on Foreign Investment, an inter-agency committee that reviews the national security implications of foreign investments in the national economy.
The acquisition of Arcadium, announced in October, is Rio’s largest deal in more than a decade. It positions the company among the world’s largest lithium miners, trailing only US-based Albemarle (NYSE: ALB) and Chile’s SQM (NYSE: SQM).
Rio Tinto, already the world’s second largest miner, is adding lithium mines in Argentina and Australia, as well as processing facilities in the US, China, Japan and the UK. Its customer base would include major names, such as Tesla, BMW and General Motors.
Chief executive Jakob Stausholm has hinted at plans to establish a standalone lithium division, Rio Tinto Lithium….
