Rio Tinto, has made an approach to buy lithium producer Arcadium Lithium, the two parties said in separate statements on Monday, without revealing any financial details. Rio's approach to Arcadium comes as miners are eager to secure supplies of critical minerals needed to power the global energy transition and comes after weeks of speculation over the deal.

Following media speculation, Rio Tinto has confirmed it is holding discussions to acquire Arcadium Lithium, a leading global lithium chemicals producer created via the merger of Allkem and Livent.

Iron ore giant Rio Tinto has confirmed it is in talks to buy US battery metal miner Arcadium Lithium. But as reported by The West Australian on Sunday, one influential shareholder of the US target is urging the board to not accept any low-ball offer.

Rio Tinto in talks to acquire Arcadium Lithium, potentially becoming the third-largest producer of EV battery metal.

By Ernest Scheyder and Clara Denina (Reuters) -Rio Tinto has been holding talks to buy lithium miner Arcadium, three sources with direct knowledge of the negotiations said, a deal that would make Rio the third-largest producer of the electric vehicle battery metal.

Rio Tinto today confirmed that it has made an approach to Arcadium Lithium regarding a potential acquisition of Arcadium Lithium by Rio Tinto.

Rio Tinto Plc is said to be in talks to buy Arcadium Lithium Plc, in a deal that would value the smaller miner between $4 billion to $6 billion, Reuters reported, citing unnamed sources.