Arcadium Lithium

Arcadium Lithium plc was a lithium producer created in January 2024 through the merger of Livent, a United States-based specialty-chemicals company, and Allkem, an Australian lithium producer with mining and brine assets. The combination brought together Livent's long experience in lithium compounds, lithium-metal technology, and chemical processing with Allkem's resource base and mining activities. The resulting company operated across the lithium supply chain, producing and developing lithium carbonate, lithium hydroxide, lithium metal, and related materials for battery, industrial, and specialty-chemicals customers. The company was established during a period in which lithium became strategically important to electric-vehicle and energy-storage supply chains. Its assets and capabilities covered both upstream and downstream activities. In Argentina, the business was associated with brine-based lithium production and development, while in Australia it operated hard-rock spodumene assets, including the Mt Cattlin mine. Chemical conversion and specialty-materials activities connected these resources with customers seeking battery-grade lithium compounds and other lithium products. This combination made Arcadium one of the larger diversified lithium producers and, according to the company's historical description, the world's third-largest lithium producer at formation. Arcadium inherited a long corporate lineage. Livent's roots extended to the Lithium Corporation of America, established in 1944. That business was acquired by FMC Corporation in 1985, and FMC later separated its lithium division as Livent in 2018. Allkem descended from Orocobre Limited, which listed on the Australian Securities Exchange in 2007 and expanded through its 2021 merger with Galaxy Resources. Orocobre subsequently adopted the Allkem name. The 2024 merger therefore combined two recently independent lithium businesses with substantially older operating histories. The company faced difficult market conditions soon after its creation. Falling spodumene prices led Arcadium to announce in September 2024 that its Mt Cattlin mine would be placed into care and maintenance by mid-2025. The decision illustrated the sensitivity of hard-rock lithium operations to changes in concentrate prices and operating costs. In August 2024, Arcadium also acquired the lithium-metal production business of Li-Metal Corp. for US$11 million, adding intellectual property related to lithium-carbonate refining and a pilot lithium refinery. Arcadium remained publicly traded in the United States and Australia until its acquisition. On October 9, 2024, Rio Tinto agreed to purchase the company in an all-cash transaction valued at US$6.7 billion, with consideration of US$5.85 per Arcadium share. The transaction received unanimous approval from the boards of both companies and closed on March 6, 2025. Following completion, Arcadium ceased to operate as an independent public company and became part of Rio Tinto's lithium business under the Rio Tinto Lithium name. Its history is therefore best understood as that of a short-lived standalone lithium group whose assets and capabilities were integrated into a larger diversified mining company.

Arcadium Lithium was an independent lithium producer that existed from January 2024 until its acquisition by Rio Tinto in March 2025. It was formed by combining Livent and Allkem, two companies with different but complementary positions in the lithium industry. Livent supplied expertise in lithium chemicals and specialty materials, while Allkem contributed mining, brine, and development assets developed through its predecessor companies. Livent's corporate history reached back to 1944, when the Lithium Corporation of America was established. The business later became part of FMC Corporation through an acquisition completed in May 1985. FMC's lithium division was separated and became Livent in 2018, creating an independent company focused on lithium compounds and related technologies. Livent's capabilities included the production and processing of lithium chemicals and lithium metal, giving it a downstream and specialty-materials orientation in addition to its resource interests. Allkem followed a separate Australian corporate path. Its predecessor, Orocobre Limited, was listed on the Australian Securities Exchange in December 2007. Orocobre developed lithium projects based on brine resources and expanded through a 2021 merger with Galaxy Resources. After that combination, the company was renamed Allkem. The merger brought together these two corporate lineages and gave Arcadium a portfolio spanning lithium resources, mining, chemical conversion, and specialty products. Arcadium began operations during a rapid expansion of global demand for lithium-ion batteries. Its products included lithium carbonate and lithium hydroxide, particularly grades intended for battery supply chains, as well as lithium metal and other lithium-related materials serving industrial and specialty applications. Its operating footprint included assets in Argentina and Australia, with corporate headquarters in Philadelphia. The company was cross-listed on the New York Stock Exchange and the Australian Securities Exchange under the symbol ALTM. The new company encountered a weaker lithium pricing environment in 2024. In September, it announced that the Mt Cattlin hard-rock mine in Australia would be placed into care and maintenance by mid-2025, citing low spodumene prices. The move reflected the effect of commodity-price volatility on higher-cost or less competitive mining operations. In the same year, Arcadium sought to strengthen its downstream technology position by acquiring Li-Metal Corp.'s lithium-metal production business for US$11 million. The transaction included intellectual property related to refining lithium carbonate and a pilot lithium refinery. Arcadium's period as an independent company ended before it could establish a long standalone operating history. On October 9, 2024, Rio Tinto announced an agreement to purchase the company for US$6.7 billion in cash, at US$5.85 per Arcadium share. The boards of both companies unanimously approved the transaction. Completion took place on March 6, 2025. Arcadium was then absorbed into Rio Tinto and became the basis of Rio Tinto's lithium unit, known as Rio Tinto Lithium. Its public listing and independent corporate identity consequently ended, although the acquired assets and technical capabilities continued within Rio Tinto's broader mining portfolio.

1. 2025Acquisition by Rio Tinto is completed

   The transaction closes on March 6, and Arcadium becomes part of Rio Tinto's lithium business.

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2. 2024Arcadium Lithium is formed

   Livent and Allkem complete their combination, creating Arcadium Lithium in January.

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3. 2024Li-Metal production business is acquired

   Arcadium purchases Li-Metal's lithium-metal production business and associated refining technology assets for US$11 million.

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4. 2024Mt Cattlin care-and-maintenance decision is announced

   Arcadium announces that the Australian Mt Cattlin mine will be placed into care and maintenance by mid-2025 because of low spodumene prices.

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5. 2024Rio Tinto announces agreement to acquire Arcadium

   Rio Tinto agrees to an all-cash acquisition valued at US$6.7 billion, with consideration of US$5.85 per share.

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6. 2021Orocobre merges with Galaxy Resources

   The merger expanded Orocobre's lithium portfolio and was followed by the adoption of the Allkem name.

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7. 2018Livent is separated from FMC

   FMC spun off its lithium division as Livent, creating an independent lithium-focused company.

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8. 2007Orocobre lists on the Australian Securities Exchange

   Allkem's predecessor, Orocobre Limited, became publicly listed in Australia in December 2007.

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9. 1985FMC acquires the Lithium Corporation of America business

   In May 1985, FMC Corporation acquired the lithium business that ultimately contributed to Livent's heritage.

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10. 1944Lithium Corporation of America is established

    The corporate lineage later associated with Livent begins with the creation of Lithium Corporation of America.

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An integrated global lithium producer combining mining, brine resources, chemical conversion, and specialty lithium-materials technology for battery and industrial customers.

• Lithium carbonateLithium chemicals

  Lithium carbonate was one of Arcadium's principal chemical products. The company produced lithium carbonate for battery-related applications as well as industrial and specialty-chemical uses. Its position in the supply chain connected resource extraction and brine operations with customers requiring processed lithium compounds.

• Lithium hydroxideBattery chemicals

  Arcadium supplied lithium hydroxide, including battery-grade material used in lithium-ion battery cathode supply chains. The product represented the downstream chemical-conversion capabilities inherited from Livent and combined with Allkem's resource base after the merger.

• Lithium metalSpecialty lithium materials2024

  Lithium metal formed part of Arcadium's specialty-materials portfolio. In 2024, the company expanded this activity by acquiring Li-Metal Corp.'s lithium-metal production business, along with related refining intellectual property and a pilot lithium refinery.

• Spodumene concentrateLithium mining product

  Spodumene concentrate was produced from Arcadium's hard-rock lithium operations in Australia. Mt Cattlin was a notable asset, although Arcadium announced in 2024 that the mine would move into care and maintenance by mid-2025 because of weak spodumene prices.

• 2024Acquire Li-Metal's lithium-metal businessM&A

  Arcadium sought to reinforce its specialty lithium-materials and refining capabilities after being formed through the Livent–Allkem merger.

  What changed. The company acquired Li-Metal Corp.'s lithium-metal production business for US$11 million, including refining intellectual property and a pilot refinery.

  Aftermath. The transaction broadened Arcadium's downstream technology portfolio before the company was acquired by Rio Tinto.

  Acquisition price. US$11 million (2024)

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• 2024Place Mt Cattlin into care and maintenanceStrategy

  Low spodumene prices reduced the economic attractiveness of the Australian hard-rock mining operation.

  What changed. Arcadium announced that Mt Cattlin would be placed into care and maintenance by mid-2025.

  Aftermath. The decision reduced or suspended the mine's operating activity while the asset was transferred into Rio Tinto's ownership through the later acquisition.

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• 2024Agree to Rio Tinto acquisitionM&A

  Rio Tinto sought to expand its position in the lithium sector, while Arcadium offered a combination of resources, processing capacity, and specialty-materials expertise.

  What changed. Arcadium and Rio Tinto agreed to an all-cash transaction valued at US$6.7 billion, with an offer of US$5.85 per Arcadium share. Both boards unanimously approved the agreement.

  Aftermath. The deal closed on March 6, 2025, ending Arcadium's existence as an independent listed company and creating Rio Tinto Lithium from the acquired business.

  Transaction value. US$6.7 billion; US$5.85 per share (Announced October 9, 2024; completed March 6, 2025)

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• 2025Rio Tinto completes Arcadium Lithium acquisition

  The acquisition closed on March 6, 2025. Arcadium became part of Rio Tinto's lithium operations, subsequently referred to as Rio Tinto Lithium.

  M&ALeadership change
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• 2024Arcadium Lithium is created through the merger of Livent and Allkem

  The merger combined Livent's specialty lithium-chemicals business with Allkem's lithium mining and development portfolio, creating a major diversified lithium producer.

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• 2024Arcadium Lithium acquires Li-Metal's lithium-metal production business

  Arcadium acquired Li-Metal Corp.'s lithium-metal production business for US$11 million, including intellectual property concerning lithium-carbonate refining and a pilot lithium refinery.

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• 2024Mt Cattlin mine to enter care and maintenance

  Arcadium announced that its Mt Cattlin spodumene mine in Australia would be placed into care and maintenance by mid-2025 because of weak spodumene prices.

  Pricing
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• 2024Rio Tinto agrees to acquire Arcadium Lithium

  Rio Tinto agreed to acquire Arcadium in an all-cash transaction valued at US$6.7 billion, offering US$5.85 for each Arcadium share.

  M&A
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1. Arcadium Lithium
2. Arcadium Lithium official website