Rio Tinto attracting interest for critical mineral assets in California

 Rio Tinto (RIO) has attracted interest from more than a dozen potential bidders for its U.S. assets that produce the critical mineral boron, which could fetch ~$2B in a sale, Bloomberg reported Friday.

WE Soda, the world’s largest producer of soda ash; Magris Resources, a Canadian mining investment firm; and U.S. Silica Holdings, one of the world's top producers of silica sand used in glassmaking and construction, are among the companies considering a purchase of Rio's (RIO) boron assets in California, according to the report.

Rio (RIO) has said its California operations meet about a third of global demand for refined boron, which is used in fertilizers as well as in high-tech applications such as heat-resistant glass and materials for renewable energy, and is a key to stabilizing permanent rare earth magnets.

The company's boron assets include a mine and processing operations in the Mojave Desert town of Boron, a refinery and shipping facility at the Port of Los Angeles, and its Owens Lake mining operation near the Sierra Nevada mountains.

https://www.msn.com/en-us/money/other/rio-tinto-attracting-interest-for-critical-mineral-assets-in-california-bloomberg/ar-AA20Capz