05:01 PM EDT, 10/04/2024 (MT Newswires) -- Rio Tinto (RIO) is in discussions to buy lithium miner Arcadium (ALTM), Reuters reported Friday, citing sources ywith knowledge of the matter.

Arcadium shares soared 39% in recent after-hours activity, while Rio was down 1%.

Rio could make an offer in the near future, the report said, but a deal is not a certainty.

Arcadium might be valued between $4 billion and $6 billion or higher, Reuters reported.

Arcadium and Rio Tinto declined to comment to Reuters.

Arcadium and Rio Tinto didn't immediately respond to requests for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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