Rio Tinto (RIO) - $4.5bn acquistion of SQM stake?
www.mining.com and others report that Rio Tinto is very interested in Potash Corp’s (POT-TSX) 32% stake in the Chilean lithium, potash and iodine miner SQM (SQM-NYSE). As part of China’s approval of the deal to merge Potash Corp and Agrium (AGU-TSX), Potash Corp’s stakes in both SQM and Arab Potash have to be sold within 18 months, while Potash Corp’s stake in Israel Chemicals (ICL-TASE) has to be sold within nine months. Separately, Agrium has just sold two US businesses to help things along.
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