The shares of the mining companies lithium They rose on Tuesday after Australia’s Liontown Resources rejected a takeover offer from Albemarle, which valued the Australian lithium company at $3.7 billion.
Liontown Resources controls two major lithium deposits in Western Australia.
Shares of US lithium miners Albemarle Corp, Livent Corp and Piedmont Lithium Inc rose between 0.8% and 6.9 percent.
Shares of Chile’s SQM in the United States and Canada’s Lithium Americas Corp also gained 3.4% and 3.9%, respectively.
The takeover bid could mark the start of consolidation in the sector, according to analysts.
Although lithium prices have fallen from their all-time highs, demand for the metal continues to rise as automakers increasingly turn to electric vehicles, opening the door for majors in the sector to secure supply for the next decade.
hartford car insurance shop car insurance best car insurance quotes best online car insurance get auto insurance quotes auto insurance quotes most affordable car insurance car insurance providers car insurance best deals best insurance quotes get car insurance online best comprehensive car insurance best cheap auto insurance auto policy switching car insurance car insurance quotes auto insurance best affordable car insurance online auto insurance quotes az auto insurance commercial auto insurance instant car insurance buy car insurance online best auto insurance companies best car insurance policy best auto insurance vehicle insurance quotes aaa insurance quote auto and home insurance quotes car insurance search best and cheapest car insurance best price car insurance best vehicle insurance aaa car insurance quote find cheap car insurance new car insurance quote auto insurance companies get car insurance quotes best cheap car insurance car insurance policy online new car insurance policy get car insurance car insurance company best cheap insurance car insurance online quote car insurance finder comprehensive insurance quote car insurance quotes near me get insurance