Arcadium Lithium Confirms Approach by Rio Tinto

Rhea-AI Summary

Arcadium Lithium (NYSE: ALTM, ASX: LTM) has confirmed receiving a non-binding approach from Rio Tinto regarding a potential acquisition. The company emphasizes that there is no certainty that any transaction will be agreed upon or proceed. Arcadium Lithium has stated it will not provide further comments until there is news to share.

The company reaffirms its commitment to executing its strategic vision and growth pathway as outlined in its recent Investor Day presentation in September 2024. Arcadium Lithium has provided contact information for investors and media inquiries but has not disclosed any additional details about the potential acquisition or its current operations.

Positive

• Potential acquisition interest from a major mining company (Rio Tinto)
• Company reaffirms commitment to strategic growth plans

Negative

• Non-binding nature of the approach creates uncertainty
• Lack of details about the potential acquisition terms or valuation

PHILADELPHIA and PERTH, Australia, Oct. 6, 2024 /PRNewswire/ -- Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, "Arcadium Lithium") today confirmed that it has been approached by Rio Tinto regarding a potential acquisition of Arcadium Lithium by Rio Tinto.

The approach is non-binding and there is no certainty that any transaction will be agreed to or will proceed. Arcadium Lithium will not comment further unless and until there is news to share.

Arcadium Lithium remains focused on executing its strategic vision and pathway to significant growth, as set forth in its recent Investor Day presentation in September 2024.

Arcadium Lithium Contacts

Investors:
Daniel Rosen +1 215 299 6208
daniel.rosen@arcadiumlithium.com

Phoebe Lee +61 413 557 780
phoebe.lee@arcadiumlithium.com

Media:
Karen Vizental +54 9 114 414 4702
karen.vizental@arcadiumlithium.com

About Arcadium Lithium 
Arcadium Lithium is a leading global lithium chemicals producer committed to safely and responsibly harnessing the power of lithium to improve people's lives and accelerate the transition to a clean energy future.  We collaborate with our customers to drive innovation and power a more sustainable world in which lithium enables exciting possibilities for renewable energy, electric transportation and modern life.  Arcadium Lithium is vertically integrated, with industry-leading capabilities across lithium extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction (DLE), and in lithium chemicals manufacturing for high performance applications. We have operations around the world, with facilities and projects in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States.  For more information, please visit us at www.ArcadiumLithium.com.

Important Information and Legal Disclaimer:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this news release are forward-looking statements. In some cases, we have identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for Arcadium Lithium based on currently available information. There are important factors that could cause Arcadium Lithium's strategic plans, actual results, level of activity, performance or achievements to differ materially from the plans, results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the possibility of a strategic transaction or transactions, the supply and demand in the market for our products as well as pricing for lithium and high-performance lithium compounds; our ability to realize the anticipated benefits of the integration of the businesses of Livent and Allkem or of any future acquisitions; our ability to acquire or develop additional reserves that are economically viable; the existence, availability and profitability of mineral resources and mineral and ore reserves; the success of our production expansion efforts, research and development efforts and the development of our facilities; our ability to retain existing customers; the competition that we face in our business; the development and adoption of new battery technologies; additional funding or capital that may be required for our operations and expansion plans; political, financial and operational risks that our lithium extraction and production operations, particularly in Argentina, expose us to; physical and other risks that our operations and suppliers are subject to; our ability to satisfy customer qualification processes or customer or government quality standards; global economic conditions, including inflation, fluctuations in the price of energy and certain raw materials; the ability of our joint ventures, affiliated entities and contract manufacturers to operate according to their business plans and to fulfill their obligations; severe weather events and the effects of climate change; extensive and dynamic environmental and other laws and regulations; our ability to obtain and comply with required licenses, permits and other approvals; and other factors described under the caption entitled "Risk Factors" in Arcadium Lithium's 2023 Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 29, 2024, as well as Arcadium Lithium's other SEC filings and public communications. Although Arcadium Lithium believes the expectations reflected in the forward-looking statements are reasonable, Arcadium Lithium cannot guarantee future results, level of activity, performance or achievements. Moreover, neither Arcadium Lithium nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Arcadium Lithium is under no duty to update any of these forward-looking statements after the date of this news release to conform its prior statements to actual results or revised expectations.

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SOURCE Arcadium Lithium PLC

FAQ

What is the current status of Rio Tinto's approach to acquire Arcadium Lithium (ALTM)?

Rio Tinto has made a non-binding approach to potentially acquire Arcadium Lithium. However, there is no certainty that any transaction will be agreed upon or proceed at this time.

How has Arcadium Lithium (ALTM) responded to Rio Tinto's acquisition approach?

Arcadium Lithium has confirmed the approach but stated it will not comment further unless there is news to share. The company remains focused on executing its own strategic vision and growth plans.

When did Arcadium Lithium (ALTM) present its strategic vision and growth pathway?

Arcadium Lithium presented its strategic vision and pathway to significant growth during its Investor Day presentation in September 2024.

What are the stock exchange listings for Arcadium Lithium?

Arcadium Lithium is listed on the New York Stock Exchange (NYSE) under the ticker ALTM and on the Australian Securities Exchange (ASX) under the ticker LTM.