In 2023, significant rejections of offers have characterized the investments landscape for critical battery metals. Liontown Resources dismissed Albemarle Corporation’s US$3.6 billion proposition, followed by Teck Resources Limited’s rebuff of Glencore plc’s US$23.2 billion merger suggestion. Rio Tinto Group’s acquisition of a lithium mine for $825 million in Argentina underscored the competition for lithium assets. Lithium South Development Corporation, meanwhile, nears a new resource estimation after its resource expansion program at its Hombre Muerto North Lithium project (HMN Li Project) and is exploring Direct Lithium Extraction (DLE) technologies, potentially uplifting the project’s profitability. Notably, significant progress at HMN Li includes a Preliminary Economic Assessment (PEA), drilling expansion, and alignment with DLE experts. With its acquisition of the Rincon lithium project, Rio Tinto is exemplifying commitment to ESG standards and potential supply agreements with the likes of Ford Motor Company. Albemarle, despite a substantial global lithium production network, faced resistance in widening its reach to Liontown’s Kathleen Valley project. Teck Resources’ rejection of Glencore’s offer highlights valuations, regulatory challenges, and national interest considerations within deal-making in the sector. Albemarle persists in pursuing Liontown shareholders despite rebuff, reflecting the intense dynamism in the lithium market.

Mining & Metals, Chemical Manufacturing, Automotive & Electric Vehicles, Financial Services,Argentina, Australia, Canada

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