Arcadium Lithium has a market cap of $3.31 billion and was formed by the merger of Allkem and Livent on Jan. 4, 2024. It has mining assets in Argentina and Australia, and downstream conversion assets in the U.S., China, Japan and UK.

Mining giant Rio Tinto is in talks to buy New York-listed Arcadium Lithium, its latest attempt to establish a foothold in the fast-growing market for a critical mineral used to power electric cars.

Arcadium Lithium shares jumped in premarket trading Monday after it confirmed that it has been approached about a potential acquisition by mining giant Rio Tinto.