Wealth Minerals part of group eyeing bid for Potash's SQM stake: Reuters

Rio Tinto, Canada’s Wealth Minerals and Chinese private equity firm GSR Capital are considering a bid for a stake in Chilean lithium producer SQM (Sociedad Quimica Y Minera de Chile), banking sources told Reuters. Canada’s Potash Corp of Saskatchewan must divest its 32 percent stake in the Chilean company as part of its merger with rival Agrium Inc. Given SQM’s market capitalization of around US$15 billion, according to Reuters data, this would give a value to the stake of US$4.8 billion. SQM said it has received significant interest from potential acquirers as demand rises for lithium, essential for batteries used in electric vehicles.

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