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Rio Tinto Drops out of Bidding for Chilean Lithium Producer -Bloomberg

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01/11/2018 | 08:19am CEST

--Rio Tinto has dropped out of the bidding for a stake in Sociedad Quimica y Minera de Chile, one of the world's top lithium producers, as it pursues other ways to capitalize on the electric-car boom, Bloomberg reports, citing unnamed sources.

--Rio decided not to proceed with an offer for Nutrien Ltd.'s 32% stake in Santiago-based SQM--worth about $5 billion at current market prices--after conducting research, according to Bloomberg.

--Rio is studying the development of a Serbian lithium project that could meet 10% of global demand and begin production as soon as 2023, Bloomberg reports.

Full story: https://bloom.bg/2DiZFli

Write to Barcelona editors at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
LME COPPER CASH -2.09% 6987 End-of-day quote.-2.70%
PLUMB CASH (EUR/100 KG) LONDON -1.32% 241.125 Real-time Quote.-1.27%
RIO TINTO -3.24% 4120 Delayed Quote.8.02%
RIO TINTO LIMITED -2.23% 82.14 End-of-day quote.13.05%
SILVER -1.28% 16.307 Delayed Quote.-2.36%
SOCIEDAD QUIMICA Y MINERA DE CHILE S.A. --End-of-day quote.
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