This change was announced at an International Investment Summit in London by Chancellor Rachel Reeves. The new name indicates a remit beyond infrastructure.
Monday, 14 October 2024
Friday, 4 October 2024
Lithium Stocks Up with Takeover Speculation
The world's largest lithium producer, Albemarle, saw its stocks lift 5.9% on Friday, and Arcadium, another large producer saw its stock lift 9.2%, on speculation Rio Tinto (NYSE: RIO, LSE: RIO, ASX: RIO) might buy them.
Rio is facing challenges developing its Jadar lithium (and boron) mine in Serbia where activity has halted since 2022 due to fears of environmental damage. It has the potential to be the biggest lithium mine in Europe.
Lithium prices have dropped 88% over the past two years. Rio has shown increasing interest in lithium mining, reportedly previously attempting to buy a stake in SQM in 2021.
Subscribe to:
Posts (Atom)