Pair of Rejected Bids Show Mining Giants Can't Easily Acquire Critical Battery Metals Assets
Albemarle Corporation (ALB)
Last albemarle corporation earnings: 2/19 04:15 pm
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Source: PR Newswire
USA News Group CommentaryVANCOUVER, BC, April 26, 2024 /PRNewswire/ -- USA News Group – Already in 2023 there have been two multibillion-dollar takeover bids rejected that would've involved critical battery metals assets. The first to go down was Liontown Resources turning down a US$3.6 billion offer from Albemarle Corporation (NYSE:ALB), followed by Teck Resources Limited (NYSE:TECK) (TSX:TECK-A) (TSX:TECK-B) rejecting a US$23.2 billion merger proposal from Glencore plc (OTC:GLNCY). Meanwhile, mining giant Rio Tinto Group (NYSE:RIO) is rumored to be on the prowl for more lithium assets after already buying a lithium mine for $825 million in Argentina, in the same province (Salta) as Lithium South Development Corporation's (TSXV:LIS) (OTC:LISMF) Hombre Muerto North Lithium project (HMN Li Project).At this latter project, Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF) recently completed the final drill hole of a resource expansion program, designed to expand upon the HMN
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News
- Albemarle Corporation (NYSE:ALB) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Lithium giant Albemarle's plans to reopen a rich mine in North Carolina will take years to complete [CNBC]CNBC
- Albemarle (ALB) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Albemarle Plans More Lithium Auctions in Bid to Demystify Prices [Financial Post (Toronto, Ontario, Canada)]Financial Post
- $140 million lithium battery project bringing over 500 jobs to the Charlotte area [Yahoo! Finance]Yahoo! Finance
ALB
Earnings
- 5/1/24 - Miss
ALB
Sec Filings
- 5/1/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 3/28/24 - Form 10-K/A
- ALB's page on the SEC website