Rio Tinto's Lithium Expansion
(Reuters) – Rio Tinto (NYSE:RIO) is in discussions to acquire lithium producer Arcadium Lithium in a move that could elevate the Anglo-Australian miner to the position of the third-largest producer of the electric-vehicle battery metal.
Projects Overview
- Rincon Project: Set to commence production later this year in Argentina.
- Jadar Project: Located in Serbia, it may take a minimum of two years to secure all necessary permits.
Market Outlook
Despite some global automakers lowering short-term targets, the long-term outlook for electric vehicle demand remains positive, potentially leading to more acquisitions among lithium producers.
Top Lithium Producers
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Albemarle (NYSE:ALB)
- Market Cap: $12 billion
- Operations: North America, Chile, Western Australia
- 2023 Production: 39,000 tons of lithium metal
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Sociedad Química y Minera de Chile (SQM)
- Market Cap: $11.43 billion
- Ownership: 20% by China's Tianqi Lithium
- 2022 Production: 165,500 tons of lithium hydroxide and carbonate
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Ganfeng Lithium
- Market Cap: $9.37 billion
- Operations: Western Australia, Argentina, Mexico, China
- Stake: 6.16% in Pilbara Minerals
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Tianqi Lithium
- Market Cap: $8.11 billion
- Operations: Australia, Chile, China
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Mineral Resources
- Market Cap: $7.12 billion
- Mining: Biggest producer of hardrock spodumene
- 2022 Shipment: 847,000 dmt of spodumene concentrate
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Pilbara Minerals
- Market Cap: $6.34 billion
- Operations: Pilgangoora mine, Western Australia
- 2023 Production: 620,147 dmt of spodumene concentrate
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Arcadium Lithium
- Market Cap: $3.31 billion
- Formation: Merger of Allkem and Livent on Jan. 4, 2024
- 2023 Production: 29,661 tons of lithium carbonate, and 239,312 dmt of spodumene concentrate from Allkem alone
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Liontown Resources (ASX:LTR)
- Market Cap: $1.45 billion
- Operations: Western Australia
- September Shipment: 11,855 wet metric tons of spodumene concentrate
Note: ($1 = 1.4804 Australian dollars)
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