Rio Tinto Boron Assets Attract Bidders at 2 Billion Dollars
Rio Tinto's California boron assets draw interest from over a dozen bidders with a potential value of $2 billion. Binding offers are expected by June.
RIO TINTO LTD is reportedly seeing strong interest in its boron production assets in the United States, with more than a dozen potential bidders evaluating the business. Bloomberg News reported that the California-based operations could be valued at up to $2 billion. Interested firms, including WE Soda Investments Holding PLC, Magris Resources, and U.S. Silica Holdings, are expected to submit binding offers by June. Boron is an essential component in nuclear energy, wind turbines, specialty glass, and ceramics, as well as fertilizers and cleaning chemicals. Its inclusion on the U.S. critical minerals list last year underscores its strategic importance and the risks associated with concentrated global production. The potential divestment aligns with CEO Simon Trott’s strategy to simplify the company’s portfolio and generate up to $10 billion through asset sales and productivity improvements by 2025.
