(Reuters) – JPMorgan Chase holds a 5.36% stake in Australia’s mining conglomerate Rio Tinto for the bank’s clients, an exchange filing to the local bourse showed on Thursday. Last week, the Anglo-Australian mining giant completed its $6.7 billion acquisition of the U.S.-based Arcadium Lithium, as it looks to diversify away from iron ore towards critical […]
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JPMorgan holds 5% stake in mining major Rio Tinto for clients
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(Reuters) – JPMorgan Chase holds a 5.36% stake in Australia’s mining conglomerate Rio Tinto for the bank’s clients, an exchange filing to the local bourse showed on Thursday.
Last week, the Anglo-Australian mining giant completed its $6.7 billion acquisition of the U.S.-based Arcadium Lithium, as it looks to diversify away from iron ore towards critical minerals and battery metals such as lithium.
Rio on Wednesday said it will raise $9 billion in U.S. investment-grade bonds as it seeks to fund the Arcadium buyout.
(This story has been corrected to say that JPMorgan holds Rio Tinto shares for clients, not a direct ownership stake, in the headline and in paragraph 1)
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Alan Barona)