Reports indicate that Rio Tinto is engaged in negotiations to acquire lithium mining company Arcadium. Sources familiar with the matter suggest that discussions are ongoing and continued during the recent LME week meetings.
Rio Tinto "may" be in initial negotiations for a major lithium acquisition, potentially involving Albemarle or Arcadium Lithium. Despite the speculative nature, the potential acquisition has positively impacted some lithium producers' stock prices. Lithium's extensive applications in many industries make it a valuable investment, though the market has seen a decline over the past two years.
Shares of Albemarle (ALB), Arcadium Lithium (ALTM), and Sociedad Quimica y Minera, or SQM (SQM), jumped Friday following a report that mining giant Rio Tinto (RIO) could be looking to buy a company in the lithium sector.
Did Rio Tinto just call the bottom on lithium prices?
On Friday, The Australian reported that Rio Tinto might be looking at M&A in the lithium space. That sent shares of Albemarle, Arcadium, and SQM higher.
For Schaeffer's Cheap Seats: Stocks Under $20 segment, we're taking a look at Joby Aviation Inc (NYSE: JOBY) and Piedmont Lithium Inc (NASDAQ:PLL), both of which are making sizeable intraday moves.
Q2 Metals is making significant strides with its Cisco Deposit in Quebec, showing promising drill results and potential for a major lithium discovery. Recent drill results include substantial intervals of spodumene pegmatite, boosting investor confidence and driving up Q2's share price. Comparing these drill results to those of other deposits demonstrates that Cisco is potentially a world-class deposit.
Nevada Lithium Resources Inc (CSE:NVLH, OTCQB:NVLHF) announced the results from its second and final diamond drill hole from its 2024 program at the Bonnie Claire lithium project, located in Nevada. The infill hole intersected 3,024 parts per million (ppm) lithium and 9,000 ppm boron over 414 meters, enhancing confidence in the resource area.
Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQX:LILIF) reported lithium concentrations ranging from 269 to 340 mg/l in its thirteenth exploration well at the Rincon West Project in Salta Province, Argentina, as part of its ongoing drilling program. The well, RW-DDH-13, showed lithium concentrations over a 327-meter interval.
Rio Tinto and UK refinery developer Green Lithium are joining forces to develop a lithium supply chain for the UK and EU's automotive and manufacturing sectors. "By building our refineries, we will accelerate the adoption of EVs and sustainable energy storage through the increased supply of low-carbon, battery-grade lithium chemicals," Sean Sargent, chief executive of Green Lithium, said after signing the MoU on Tuesday.
Highlights: Strong analytical results from the inaugural drilling campaign for Q2 Metals include: CS-24-018: Widest interval of215.6 m at 1.69% Li2O, including 64.6 m at 2.29% Li2O. CS-24-011: Widest interval of 81.8 m at 1.17% Li2O.
Highlights: The maiden resource estimate at the Yellowknife Lithium Project represents the 3rd largest hard-rock maiden resource estimate in Canada and the 10th largest hosted in the Western Hemisphere. 6 of the 8 spodumene dykes included in the maiden resource estimate have unconstrained mineralization, providing significant opportunity for growth.