Arcadium was shaped solely in January by the merger of Australia-based Allkem and US-based Livent which introduced collectively lithium mines, processing amenities and deposits throughout 4 continents. These corporations had been themselves the creations of previous offers that cobbled collectively a few of the world’s most prized lithium property.
Here’s a timeline of main occasions resulting in Arcadium’s creation.
1944: The Lithium Corp of America is based partially to assist provide the US authorities with a sort of lithium wanted for the Manhattan mission. The brand new firm begins digging for the metallic in North Carolina.
Could 1985: Agricultural chemical producer FMC buys Lithium Corp of America and grows to develop into the most important producer on the earth, a title it will definitely cedes.
October 1997: FMC begins lithium manufacturing at Argentina’s Salar de Hombre Muerto within the nation’s far north utilizing evaporation ponds.
February 1998: With Argentina manufacturing below means, FMC closes its lithium mine in North Carolina.
June 1998: FMC provides an early model of Direct Lithium Extraction to its Salar de Hombre Muerto operations, turning into the primary firm to make use of the expertise in tandem with ponds. Engineers on the website are nonetheless thought of world specialists in DLE integration.
December 2007: Australia-based Orocobre begins buying and selling on the Australian Inventory Alternate after discovering the Olaroz lithium deposit in Argentina whereas looking for gold and copper. (“Orocobre” is a portmanteau of the Spanish phrases for these two metals.)
October 2009: Galaxy Sources begins development on Western Australia’s Mt. Cattlin lithium mine, one of many nation’s largest sources of the battery metallic. The mine is mothballed by Arcadium in September 2024 amid low lithium costs.
January 2010: Australian-based Orocobre agrees to develop Olaroz with a sister firm to Toyota Motor.
December 2014: Orocobre opens the Olaroz lithium facility.
Could 2018: Galaxy releases an up to date feasibility research for its Sal de Vida lithium mission in Argentina. The mission continues to be below improvement as of October 2024.
October 2018: FMC spins off its lithium division as Livent.
October 2018: Galaxy releases an environmental research on its proposed James Bay lithium mission in Canada. The asset had but to be developed as of October 2024.
April 2020: Orocobre buys Benefit Lithium in a deal that offers it management of the Cauchari lithium deposit in Argentina, close to one from Lithium Argentina.
November 2020: Livent agrees to type a three way partnership to purchase Quebec’s troubled Nemaska lithium mission. The corporate additionally extends a profitable deal to produce the battery metallic to Tesla.
April 2021: Australia’s Orocobre says it’ll pay $1.4 billion for smaller rival Galaxy Sources in an all-stock deal that introduced collectively exhausting rock, brine and chemical substances property throughout Australia, Argentina, Canada and Japan.
November 2021: Orocobre adjustments its title to Allkem, a reference to lithium’s place close to the highest of the Periodic Desk of Parts.
August 2022: The US authorities approves the Inflation Discount Act, a constructive harbinger for lithium-producing nations which have commerce offers with Washington, together with Australia and Canada.
August 2022: Normal Motors agrees to prepay Livent $198 million for a assured provide of lithium.
December 2023: Livent invests in ILiAD, a DLE expertise developer.
January 2024: Allkem and Livent merge to type Arcadium, with every firm getting six seats on the brand new agency’s board of administrators. The brand new firm’s title is a reference to its a number of property throughout Argentina, Australia, Canada and elsewhere.
October 2024: Rio Tinto and Arcadium affirm a Reuters report that they’re in negotiations.
(By Ernest Scheyder and Clara Denina; Enhancing by Matthew Lewis)