NYSE- and ASX-listed Arcadium Lithium – the company formed from the merger of equals between Livent and Alkem – has flagged a slowdown in the pace of its expansion plans in light of the current market conditions. “While lithium and energy storage market dynamics have changed considerably since our merger announcement in May, the underlying merits of the transaction remain compelling,” president and CEO Paul Graves has said.
US activist investor Elliott Management is setting up a company to invest over $1-billion to buy mining assets globally, the Financial Times reported on Friday, citing people familiar with the matter. Elliot's new venture, called Hyperion, would have a mandate to buy across all assets, including base and precious metals and commodities used in electric vehicles, the report said. The new venture will be led by former Newcrest Mining CEO Sandeep Biswas, it added.
Brazilian miner Vale reported on Thursday a 35% drop in fourth quarter net profit, missing analyst expectations by almost half, following higher provisions related to its Samarco joint venture and more taxable income. Vale, one of the world's largest iron-ore producers, reported a $2.42-billion net profit for the quarter ended in December, compared to $4.15-billion expected by analysts polled by LSEG.
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