Arcadium shareholders approve sale to Rio Tinto
Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.
Peter Kettle, manager of statistics and market studies at the International Tin Institute (ITI), had some interesting things to say about tin at the close of the Investing in Tin conference in London. As reported in Robin Bromby’s column in The Australian, Kettle remarks that Australia could be the main source of new tin mine production in the next five years.
By way of background, notes Bromby, the tin market is 10,000 tonnes in deficit, which is a fairly large chunk of the paltry 300,000 tonnes a year currently produced by the world’s tin mines. Despite the undersupply situation, the price of the metal has slid over the last three months, from $11/lb around the begining of September to just over $9/lb on Friday.
Still, that’s a lot higher than when the price of tin collapsed in the mid-80s and most tin mines closed.
Bromby notes that of six companies that made presentations at the conference, five are Australian-owned. They include:
Comments
Dav1942
The wizerd of oz tin man will be thrilled to death at this news!!!!!!!!!