Rio Tinto Drops out of Bidding for Chilean Lithium Producer -Bloomberg

--Rio Tinto has dropped out of the bidding for a stake in Sociedad Quimica y Minera de Chile, one of the world's top lithium producers, as it pursues other ways to capitalize on the electric-car boom, Bloomberg reports, citing unnamed sources.

--Rio decided not to proceed with an offer for Nutrien Ltd.'s 32% stake in Santiago-based SQM--worth about $5 billion at current market prices--after conducting research, according to Bloomberg.

--Rio is studying the development of a Serbian lithium project that could meet 10% of global demand and begin production as soon as 2023, Bloomberg reports.

Full story: https://bloom.bg/2DiZFli

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