The British-Australian mining company announced an all-cash acquisition of Arcadium Lithium—one of the world’s largest lithium miners—by mid-2025. Rio Tinto’s purchase will add lithium operations to its existing aluminum and copper mines. (The Logic) 

Talking point: Lithium, a key component of electric-vehicle batteries, has had a volatile past two years that threatened shareholder confidence in Arcadium. The company produces a range of lithium, which Rio Tinto expects will grow its own resource base by some 130 per cent by 2028, it said in a press release. In Canada, Arcadium runs Quebec’s Nemaska Lithium project and has also indicated it’s interested in expanding in Ontario. The company previously clinched a $222-million subsidy deal with the Canadian government to produce lithium, titanium and scandium, and views lithium as a “high growth, attractive market.” “Deal timing clearly takes advantage of a down-trodden lithium space with pricing hovering at their lowest levels in over three years,” TD Cowen analysts said.