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←Created page with '{{Short description|Australian mining company}} {{Use mdy dates|date=November 2024}} {{Use Australian English|date=November 2024}} {{Infobox company | name = Arcadium Lithium | logo = | type = Public | traded_as = {{Unbulleted list|{{NYSE|ALTM}}|{{ASX|LTM}}}} | key_people = Peter Coleman (Chairman)<br/>Paul Graves(CEO)<br/>Gilberto Antoniazzi (CFO) | industry = Chemical industry | products = Lithium, lithium products | production = | production_year =...'
 
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{{Short description|Australian mining company}}
{{Short description|Specialty chemicals company}}
{{Use mdy dates|date=November 2024}}
{{Use Australian English|date=November 2024}}
{{Infobox company
{{Infobox company
| name = Arcadium Lithium
| name = Arcadium Lithium
| logo =
| logo =
| type = Public
| type = Public
| traded_as = {{Unbulleted list|{{NYSE|ALTM}}|{{ASX|LTM}}}}
| traded_as = {{Unbulleted list|{{NYSE|ALTM}}|{{ASX|LTM}}|[[S&P 400]] component}}
| key_people = Peter Coleman (Chairman)<br/>Paul Graves(CEO)<br/>Gilberto Antoniazzi (CFO)
| key_people = Peter Coleman (Chairman)<br/>Paul Graves(CEO)<br/>Gilberto Antoniazzi (CFO)
| industry = [[Chemical industry]]
| industry = [[Chemical industry]]
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}}
}}


'''Arcadium Lithium plc''' is a [[specialty chemicals]] manufacturing company focused on lithium production. It was formed in January 2024 from the merger of Livent, an American special chemicals company, and [[Allkem]], an Australian lithium mining company. The new company, Arcadium Lithium, became the world's third-largest lithium producer.<ref>{{cite web |last1=Murdoch |first1=Scott |last2=Burton |first2=Melanie |title=Allkem shareholders approve $10.6 billion Livent lithium merger |url=https://www.reuters.com/markets/deals/allkem-shareholders-approve-106-bln-livent-lithium-merger-2023-12-19/#:~:text=Under%20the%20Allkem%2DLivent%20deal,will%20take%20the%20top%20job. |publisher=Reuters |access-date=21 November 2024}}</ref>
'''Arcadium Lithium plc''' is a [[specialty chemicals]] manufacturing company focused on lithium production. It was formed in January 2024 from the merger of Livent, an American special chemicals company, and [[Allkem]], an Australian lithium mining company. The new company, Arcadium Lithium, became the world's third-largest lithium producer.<ref>{{cite web |last1=Murdoch |first1=Scott |last2=Burton |first2=Melanie |title=Allkem shareholders approve $10.6 billion Livent lithium merger |url=https://www.reuters.com/markets/deals/allkem-shareholders-approve-106-bln-livent-lithium-merger-2023-12-19/#:~:text=Under%20the%20Allkem%2DLivent%20deal,will%20take%20the%20top%20job. |publisher=Reuters |access-date=21 November 2024}}</ref>


==History==
==History==
Arcadium Lithium plc was created in January 2024 with the merger of Livent and [[Allkem]]. Livent's origins traced back to 1944, when the [[Lithium Corporation of America]] was created. In May 1985, it was acquired by the [[FMC Corporation]]. Livent was created in 2018, when FMC spun off its lithium division. Allkem was originally known as Orocobre Limited, and was listed on the [[Australian Securities Exchange]] on December 2007. After merging with [[Galaxy Resources]] in 2021, Orocobre was rebranded as Allkem. <ref>{{cite web |title=Timeline: Owners of Arcadium’s lithium assets through the years |url=https://www.mining.com/web/timeline-owners-of-arcadiums-lithium-assets-through-the-years/ |website=MINING.COM |access-date=21 November 2024}}</ref>
Arcadium Lithium plc was created in January 2024 with the merger of Livent and [[Allkem]]. Livent's origins traced back to 1944, when the [[Lithium Corporation of America]] was created. In May 1985, it was acquired by the [[FMC Corporation]]. Livent was created in 2018, when FMC spun off its lithium division. Allkem was originally known as Orocobre Limited, and was listed on the [[Australian Securities Exchange]] in December 2007. After merging with [[Galaxy Resources]] in 2021, Orocobre was rebranded as Allkem.<ref>{{cite web |title=Timeline: Owners of Arcadium's lithium assets through the years |url=https://www.mining.com/web/timeline-owners-of-arcadiums-lithium-assets-through-the-years/ |website=MINING.COM |access-date=21 November 2024}}</ref>


In September 2024, Arcadium announced it would place its [[Mt Cattlin mine]] into care and maintenance by mid-2025 due to low [[spodumene]] prices.<ref>{{cite web |last1=Fowler |first1=Elouise |title=Arcadium to mothball Mt Cattlin amid low lithium prices |url=https://www.afr.com/companies/mining/arcadium-to-mothball-mt-cattlin-amid-low-lithium-prices-20240905-p5k85s |website=Australian Financial Review |access-date=21 November 2024 |language=en |date=5 September 2024}}</ref> In August, Arcadium acquired Li-Metal Corp's lithium metal production business for US$11 million, gaining its intellectual property on refining lithium carbonate and a pilot lithium refinery.<ref>{{cite web |title=Arcadium acquires Li-Metal’s technology, pilot plant in $11 million deal |url=https://www.mining.com/arcadium-acquires-li-metals-technology-pilot-plant-in-us11m-deal/ |website=MINING.COM |access-date=21 November 2024 |date=4 August 2024}}</ref>
In September 2024, Arcadium announced it would place its [[Mt Cattlin mine]] into [[care and maintenance]] by mid-2025 due to low [[spodumene]] prices.<ref>{{cite web |last1=Fowler |first1=Elouise |title=Arcadium to mothball Mt Cattlin amid low lithium prices |url=https://www.afr.com/companies/mining/arcadium-to-mothball-mt-cattlin-amid-low-lithium-prices-20240905-p5k85s |website=Australian Financial Review |access-date=21 November 2024 |language=en |date=5 September 2024}}</ref> In August, Arcadium acquired Li-Metal Corp's lithium metal production business for US$11 million, gaining its intellectual property on refining lithium carbonate and a pilot lithium refinery.<ref>{{cite web |title=Arcadium acquires Li-Metal's technology, pilot plant in $11 million deal |url=https://www.mining.com/arcadium-acquires-li-metals-technology-pilot-plant-in-us11m-deal/ |website=MINING.COM |access-date=21 November 2024 |date=4 August 2024}}</ref>


On October 9, 2024, Rio Tinto agreed to buy Arcadium for US$6.7 billion, in a all-cash deal for US$5.85 per each Arcadium Lithium share. <ref>{{cite web |last1=Clinch |first1=Lee Ying Shan,Matt |title=Mining giant Rio Tinto to acquire Arcadium Lithium in $6.7 billion deal |url=https://www.cnbc.com/2024/10/09/mining-giant-rio-tinto-to-acquire-us-lithium-producer-arcadium-in-6point7-billion-deal.html |website=CNBC |access-date=21 November 2024 |language=en |date=9 October 2024}}</ref> The deal was unanimously approved by the boards of both companies and is expected to close in mid-2025.<ref>{{cite web |title=Rio Tinto to acquire Arcadium Lithium |url=https://www.riotintoandarcadium.com/ |website=www.riotintoandarcadium.com |access-date=21 November 2024 |language=en}}</ref>
On October 9, 2024, [[Rio Tinto (corporation)|Rio Tinto]] agreed to buy Arcadium for US$6.7 billion, in an all-cash deal for US$5.85 per each Arcadium Lithium share.<ref>{{cite web |last1=Clinch |first1=Lee Ying Shan,Matt |title=Mining giant Rio Tinto to acquire Arcadium Lithium in $6.7 billion deal |url=https://www.cnbc.com/2024/10/09/mining-giant-rio-tinto-to-acquire-us-lithium-producer-arcadium-in-6point7-billion-deal.html |website=CNBC |access-date=21 November 2024 |language=en |date=9 October 2024}}</ref> The deal was unanimously approved by the boards of both companies and is expected to close in mid-2025.<ref>{{cite web |title=Rio Tinto to acquire Arcadium Lithium |url=https://www.riotintoandarcadium.com/ |website=www.riotintoandarcadium.com |access-date=21 November 2024 |language=en}}</ref>


==References==
==References==
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| nasdaq = ALTM
| nasdaq = ALTM
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{{S&P 400 companies}}


[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]

Latest revision as of 23:40, 22 November 2024

Arcadium Lithium
Company typePublic
IndustryChemical industry
Founded2024; 0 years ago (2024)
Key people
Peter Coleman (Chairman)
Paul Graves(CEO)
Gilberto Antoniazzi (CFO)
ProductsLithium, lithium products
Websitewww.arcadiumlithium.com

Arcadium Lithium plc is a specialty chemicals manufacturing company focused on lithium production. It was formed in January 2024 from the merger of Livent, an American special chemicals company, and Allkem, an Australian lithium mining company. The new company, Arcadium Lithium, became the world's third-largest lithium producer.[1]

History

[edit]

Arcadium Lithium plc was created in January 2024 with the merger of Livent and Allkem. Livent's origins traced back to 1944, when the Lithium Corporation of America was created. In May 1985, it was acquired by the FMC Corporation. Livent was created in 2018, when FMC spun off its lithium division. Allkem was originally known as Orocobre Limited, and was listed on the Australian Securities Exchange in December 2007. After merging with Galaxy Resources in 2021, Orocobre was rebranded as Allkem.[2]

In September 2024, Arcadium announced it would place its Mt Cattlin mine into care and maintenance by mid-2025 due to low spodumene prices.[3] In August, Arcadium acquired Li-Metal Corp's lithium metal production business for US$11 million, gaining its intellectual property on refining lithium carbonate and a pilot lithium refinery.[4]

On October 9, 2024, Rio Tinto agreed to buy Arcadium for US$6.7 billion, in an all-cash deal for US$5.85 per each Arcadium Lithium share.[5] The deal was unanimously approved by the boards of both companies and is expected to close in mid-2025.[6]

References

[edit]
  1. ^ Murdoch, Scott; Burton, Melanie. "Allkem shareholders approve $10.6 billion Livent lithium merger". Reuters. Retrieved 21 November 2024.
  2. ^ "Timeline: Owners of Arcadium's lithium assets through the years". MINING.COM. Retrieved 21 November 2024.
  3. ^ Fowler, Elouise (5 September 2024). "Arcadium to mothball Mt Cattlin amid low lithium prices". Australian Financial Review. Retrieved 21 November 2024.
  4. ^ "Arcadium acquires Li-Metal's technology, pilot plant in $11 million deal". MINING.COM. 4 August 2024. Retrieved 21 November 2024.
  5. ^ Clinch, Lee Ying Shan,Matt (9 October 2024). "Mining giant Rio Tinto to acquire Arcadium Lithium in $6.7 billion deal". CNBC. Retrieved 21 November 2024.{{cite web}}: CS1 maint: multiple names: authors list (link)
  6. ^ "Rio Tinto to acquire Arcadium Lithium". www.riotintoandarcadium.com. Retrieved 21 November 2024.
[edit]
  • Official website
  • Business data for Arcadium Lithium plc:
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