The acquisition is expected to be completed by mid-2025, pending final regulatory approvals and other conditions.

Conflicting market signals continue to cloud the outlook for battery metals, especially lithium, with Rio Tinto, one of the world’s biggest miners, pushing ahead with a $6.7 billion acquisition, just as a leading Chinese producer struggles to sell lithium.

Arcadium Lithium said on Monday its shareholders have voted in favor of a $6.7 billion sale to Australian mining giant 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.

Rio Tinto PLC RIO shares inched up 0.51% to £46.92 Monday, on what proved to be an all-around favorable trading session for the stock market, with the FTSE 100 Index UKX rising 0.22% to 8,102.72. Supported by world-class markets data from Dow Jones and FactSet,