Rio Tinto Drops out of Bidding for Chilean Lithium Producer -Bloomberg
January 11 2018 - 2:33AM
Dow Jones News
--Rio Tinto has dropped out of the bidding for a stake in
Sociedad Quimica y Minera de Chile, one of the world's top lithium
producers, as it pursues other ways to capitalize on the
electric-car boom, Bloomberg reports, citing unnamed sources.
--Rio decided not to proceed with an offer for Nutrien Ltd.'s
32% stake in Santiago-based SQM--worth about $5 billion at current
market prices--after conducting research, according to
Bloomberg.
--Rio is studying the development of a Serbian lithium project
that could meet 10% of global demand and begin production as soon
as 2023, Bloomberg reports.
Full story: https://bloom.bg/2DiZFli
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(END) Dow Jones Newswires
January 11, 2018 02:18 ET (07:18 GMT)
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