Allens has advised Rio Tinto on the Australian aspects of its US$6.7 billion all-cash acquisition of NYSE-listed Arcadium Lithium. Allens' alliance partner Linklaters advised Rio Tinto on the transaction more broadly as lead counsel.
The acquisition will see Rio Tinto incorporate Arcadium's lithium operations, making the company a global leader in energy transition commodities, including aluminium, copper, high-grade iron ore and lithium.
'The acquisition of Arcadium Lithium further cements Rio Tinto as a key player in the energy transition. We are pleased to have played a part and congratulate all parties,' said lead Partner Richard Kriedemann.
'With the growing global demand for sustainable energy solutions, we anticipate sustained interest in lithium assets as mining companies continue to evolve and innovate to meet these critical needs.'
'We see this as a key endorsement that the market can take a long term view of the lithium market, and we expect this may trigger further activity in the sector,' Partner and Head of Critical Minerals Bryn Hardcastle added.
