Arcadium shareholders approve $6.7bn 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.
Toronto Ontario-based mining company Largo Inc said on Saturday that an employee had died due to an accident at the chemical plant on a mine in Brazil.
The press release did not go into detail about the July 13 accident, but added another contractor had suffered minor injuries in the company’s Maracás Menchen mine, located in Bahia state.
After the accident the employee was taken to the local medical facilities in Bahia state where after receiving medical attention he was pronounced dead, the company said, without providing more details on how the worker died. The contractor with minor injuries was discharged from the hospital, it added.
Largo said it launched an investigation into incident and is working with local authorities to determine the cause.
Local Brazilian news outlet iBahia reported that there was an explosion at the plant and a maintenance worker was hit, citing the miners workers union which is looking into legal action.
Largo’s Maracás Menchen mine produces vanadium resources used to make steel alloys for use in space vehicles, nuclear reactors and aircraft carriers. The site has 379 employees presently working in the mine, according to the company’s website.
(By Baranjot Kaur; Editing by Aurora Ellis)
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