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(Reuters) - Arcadium Lithium posted a loss in the fourth quarter on Thursday, as low prices of lithium, used to power electric vehicle batteries, weighed on the company.
Lithium prices have plunged more than 80% from its peak in November 2022 after a supply glut and softening of aggressive EV adoption rates.
Arcadium has agreed to sell itself to Rio Tinto, which shareholders approved in January and is expected to close by March 6.
Rio Tinto plans to create a standalone lithium division after ...
>>> Read more: Rio Tinto-buyout target Arcadium Lithium posts loss on falling lithium prices
Lithium prices have plunged more than 80% from its peak in November 2022 after a supply glut and softening of aggressive EV adoption rates.
Arcadium has agreed to sell itself to Rio Tinto, which shareholders approved in January and is expected to close by March 6.
Rio Tinto plans to create a standalone lithium division after ...
>>> Read more: Rio Tinto-buyout target Arcadium Lithium posts loss on falling lithium prices
