TSXV:NILI - Post Discussion
Post by
ETalien on Sep 17, 2024 8:53am
READ... NICE!
https://www.stockwatch.com/News/Item/Z-C!SGML-3600092/C/SGML
Globe says Sigma Lithium, rivals face takeover wave
2024-09-17 08:49 ET - In the News
Also In the News (C-LAC) Lithium Americas Corp (4)
The Globe and Mail reports in its Tuesday edition that a wave of takeovers is set to reshape the lithium mining industry, with Rio Tinto projected to emerge as the dominant producer of the metal in a decarbonized economy. The Globe's Andrew Willis writes that with analysts predicting acquisitions on the way, the question is how will the Canadian government react when foreign buyers begin circling? Ottawa seems okay to sign off on any acquisition that does not involve a China-based buyer. Pure-play lithium producers have become takeover targets because short-term issues in the sector outweigh its long-term potential. Lithium stocks are in a slump after the price of the metal tanked over the past year, in part because of slower-than-expected demand for electric vehicles and their lithium batteries. The downturn represents an opportunity for Rio Tinto. Demand for lithium is expected to more than double by 2030. Vancouver-based Sigma Lithium has been up for sale since last September. It scored a financial lifeline by signing supply agreements with Glencore. Vancouver-based Lithium Americas also secured a lifeline last year, from General Motors. The Globe reports that Rio Tinto's most likely target is Arcadium Lithium PLC.
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