Rio Tinto has completed its acquisition of Arcadium Lithium plc ("Arcadium Lithium") (NYSE: ALTM) (ASX: LTM) for $6.7 billion, following the sanctioning of the Scheme of Arrangement by the Royal Court of Jersey on 5 March.

Rio Tinto RIO has completed its previously announced acquisition of Arcadium Lithium for $6.7 billion on receiving the approval from the Royal Court of Jersey. This will position Rio Tinto as a major lithium producer with one of the world’s largest lithium resource bases.

Rio Tinto (ASX, LSE, NYSE: RIO) has officially completed its $6.7-billion (C$9.57-billion) acquisition of Arcadium Lithium (ASX: LTM; NYSE: ALTM), which will become Rio Tinto Lithium. The newly formed

Rio Tinto’s proposed $US6.7 billion ($10.75 billion) acquisition of Arcadium Lithium is now expected to be completed on March 6, with the transaction subject to approval by the Royal Court of Jersey and other customary closing conditions.

The deal positions Rio Tinto as the ultimate parent company of Arcadium Lithium, now renamed Rio Tinto Lithium.