Rio Tinto, has made an approach to buy lithium miner Arcadium, the two parties said in separate statements on Monday, without revealing any financial details. "The approach is non-binding and there is no certainty that any transaction will be agreed to or will proceed,

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.