Reuters was first to report that mining giant Rio Tinto had been holding talks to buy Lithium miner Arcadium, which, if successful, would vault Rio to being the world’s third largest producer of the electric vehicle battery metal. In buying Arcadium, Rio would gain access to lithium mines, processing facilities and deposits in Argentina, Australia, Canada and the United States, as well as a customer base that includes Tesla, BMW and General Motors.
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