Factbox: Rising EV demand sparks consolidation in global lithium industry

Allkem

10/05/2023 16:22

May 10 (Reuters) - Australian lithium miner Allkem Ltd
 AKE.AX  and U.S.-based Livent Corp  LTHM.N  on Wednesday agreed
to merge to create a $10.6 billion entity, as companies seek to
safeguard supply of the critical metal that powers electric
vehicles and is seen as a key component of the green energy
transition.
    Lithium prices, meanwhile, have fallen sharply in 2023 after
touching all-time highs last year on soaring demand projections.
    Following are some of the largest deals or potential bids
involving lithium producers since 2021, according to Refinitiv
and S&P Global Market Intelligence data.
        
  
 Target      Acquirer    Deal type      Value (in $)  Status
 2021
 Rincon      Rio Tinto   Asset          825 mln       Complete
 lithium                 acquisition                  
 project                                              
 Neo         Zijin       Acquisition    737.14 mln    Complete
 Lithium     Mining                                   
 Corp        Group                                    
 Tres        Zijin       Investment     380 mln       
 Quebradas   Mining                                   
 project     Group                                    
 Arcadia     Zhejiang    Asset          422 mln       Complete
 mine        Huayou      acquisition                  
             Cobalt                                   
 Ioneer      Sibanye     Investment     490 mln       Complete
             Stillwater                               
 2022
 LSC         Gangfeng    Acquisition    962 mln       
 Lithium     Lithium                                  
 Millenial   Lithium     Acquisition    400 mln       Complete
 Lithium     Americas                                 
 Arena       Lithium     Acquisition    227 mln       Complete
 Minerals    Americas                                 
 2023
 Liontown    Albemarle   Acquisition    3.6 bln       Rejected
 Resources   Corp                                     
 Lithium     GM          Investment     650 mln       
 Americas                                             
 Sigma       Tesla       Acquisition    NA            No formal
 Lithium                                              bid made
   

 (Reporting by Mrinalika Roy and Arunima Kumar in Bengaluru;
Editing by Sriraj Kalluvila)
 ((mrinalika.roy@thomsonreuters.com;))