How many migrants have crossed the US border illegally-

Getty Images BBC Verify logo over an image of migrants at the US southern border.Getty ImagesCracking down on illegal immigration has been Donald Trump’s signature issue – but now Democrats are trying to address an election weakness by also talking tough about securing the US border with Mexico.
The Republican presidential nominee has repeatedly criticised the government's record on the border, saying "Kamala Harris has allowed 21 million illegals to pour in from all over the world.”
Crossings did reach record levels under President Biden, but numbers have dropped significantly in recent months. Now Harris says she will make it even harder for migrants to seek asylum in the US.
Six out of 10 Americans rate immigration as “very important” in determining how they will vote, according to the Pew Research Center. Other polling suggests voters trust Trump to handle the issue more effectively than Harris.
So how have both administrations dealt with the influx of migrants and what do we know about the people crossing this border illegally?
How many migrants have crossed the US southern border?US border officials record "encounters" with migrants – these include people who attempted to cross illegally and people who tried to enter legally but were deemed inadmissible.
These encounters have risen to record highs under the Biden administration but not to the level Trump – who has not provided a source for his claim – maintains.
Since January 2021, when Joe Biden came to office, there have been more than 10 million encounters – about 8 million came over the southwest land border with Mexico.
Under the Trump administration, there were 2.4 million encounters on this border.
Encounters fell at the start of 2020 as arrivals slowed because of the pandemic.
The number of encounters is not a count of individuals who stay in the US as some migrants will be returned and the same person can be recorded trying to enter multiple times.
These figures don't include people who may have crossed the border undetected.
The US Department of Homeland Security has estimated there were 11 million illegal migrants living in the US as of January 2022.
It says about a fifth of them arrived in 2010 or later but the majority arrived before this time, some as early as the 1980s.
How have government policies affected border crossings?Both the Trump and Biden administrations used a Covid-19 public health measure to quickly return migrants at the border.
Between its start in March 2020 and its end in May 2023, migrants were expelled nearly three million times under this policy.
Despite this, encounters continued to increase, according to the Migration Policy Institute.
The factors driving this included a post-lockdown surge in crossings and political and economic instability in countries such as Venezuela.
Republicans say Biden’s “weak” policies on immigration also encouraged migrants to travel to the US – and some Democrats in border states criticised the administration for not acting quickly enough to address the crisis.
An attempt to pass a cross-party bill to tighten border security failed in May 2024, with Harris saying that Trump "tanked it".
Biden issued an executive order the following month to quickly deport migrants at the border.
This means migrants can be sent back without having their asylum claims processed, if the average number of weekly encounters exceeded a certain threshold.
A month after the order was introduced, encounters at the southern border fell by a fifth.
Efforts by the Mexican government have also brought crossings down, including setting up new checkpoints and increasing patrols.
In May, Mexican President Andrés Manuel López Obrador said that the number of migrants at the US southern border had halved from a peak of 12,000 a day to 6,000 a day.


Ekong Insists Libya’s Knights Will Be Tough in Reverse Fixture on Tuesday

Femi Solajawith agency report
Super Eagles  Captain, William Troost-Ekong, has predicted that Libya’s Mediterranean Knights will be even tougher nut to crack when both teams clash again Tuesday night in Benina.
Tuesday’s rematch will kick off by 8pm at a packed 10,000-capacity stadium and it will be played on an artificial pitch.
Despite dominating the North Africans last Friday at the Godswill Akpabio Stadium in Uyo, it was the personal brilliance of Lazio’s attacking midfielder, Fisayo Dele-Bashiru, for Nigeria in the 71st minute to snatch all three points at stake.
Dele-Bashiru snapped up the cross by Moses Simon to rifle to Libya’s goalkeeper, Abu Bakr Alwuheeshi’s blind side to record the lone goal for Nigeria.
Libya are rooted to the bottom of Group D halfway through the 2025 AFCON qualifying series with only a point and are hard pressed to win in front of their fans on Tuesday to get their campaign back on track.
“Libya will come out fighting, but we want to go there and seal our AFCON qualification,” Ekong stressed Friday night after the slim win for Nigeria.
He admitted to know that Eagles are not going to Benina to play just the 11 players on the field.
“The crowd will be hostile there, they will make it hard for us, but we will be ready,” the Al-Kholood of Saudi Pro League central defender further hinted.
Ekong said it was difficult to break down the very defensive Libyans, but was pleased the Super Eagles won the three points at stake in Uyo.
“Libya came to get a point, they played defensively, eight defenders at the edge of their box, they kept us out for a long time,” he said.
“It was an ugly win and it took a lot of time before we scored, but we got the three points and that’s good for us.
“A win is a win and I will take this win.
“We need to be more clinical (in front goal), try to convert half chances to goals,” concludes the Super Eagles Captain in apparent reference to the wasteful nature of the Nigerian forwards with Victor Boniface the worst culprit.


BMW chief says EU combustion engine ban will shrink car industry

Oliver Zipse tells Paris motor show 2035 cutoff point for CO2-emitting cars is ‘no longer realistic’
Business live – latest updatesLisa O’CarrollTue 15 Oct 2024 09.14 EDTLast modified on Tue 15 Oct 2024 12.39 EDTShareThe EU’s plans to ban the manufacture of traditional combustion engines from 2035 will shrink the industry, BMW’s chief executive has warned as the German car industry battles with increased competition from China in the electric vehicle sector.
In a comment that will alarm Brussels, Oliver Zipse told the Paris motor show the 2035 cutoff point for CO2-emitting cars was “no longer realistic”.
The ban “could also threaten the European automotive industry in its heart,” Zipse said. The measures will “with today’s assumptions, lead to a massive shrinking of the industry as a whole”.
Vauxhall owner to make decision on future of UK plants ‘in next few weeks’Read moreEuropean car manufacturers are out in force in Paris to defend their home turf, with Chinese brands representing just one-fifth of those on show compared with 2022 when they accounted for half the brands displayed.
BMW, one of the driving forces of the German car industry, is showcasing 15 electric vehicles in Paris, the most important industry event in the calendar.
“A correction of the 100% BEV (battery electric vehicle) target for 2035 as part of a comprehensive CO2-reduction package would also afford European OEMs (original equipment manufacturers) less reliance on China for batteries,” Zipse added referring to Beijing’s dominant position.
Carmakers including BMW, VW and Renault, as well as the Italian government, have called for the CO2 targets to be loosened or delayed.
On Monday Carlos Tavares, the chief executive of the Fiat, Citroën and Vauxhall owner Stellantis, said proposed tariffs on Chinese cars would speed up plant closures in Europe, as they would push Beijing to move manufacturing to the continent in direct competition with European brands.
Tavares said a decision would be made on the future of its UK plants “in the next few weeks”, amid a row over government electric vehicle quotas. Stellantis said in June that it could be forced to close its Vauxhall plants at Ellesmere Port and Luton if government rules were not relaxed.
Tavares predicted Chinese brands would not be going to Germany, France or Italy, the home of Europe’s oldest brands, but China would seek cheaper options in countries such as Hungary, where BYD is already planning an assembly plant after efforts by the prime minister, Viktor Orbán, to woo investment from Beijing.
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This, he said, would mean “accelerating the need to shut down plants” elsewhere in Europe.
The German car industry, once the envy of the world, is suffering partly because of weaker demand but also a slow reaction to competition from China.
Efforts by BMW to push back against green targets will set alarm bells ringing in Brussels, which thought it had seen off the German car industry in 2023 when they were at loggerheads over the planned 2035 phase-out of CO2-emitting cars.
Under the rules, secondhand petrol and diesel cars can be sold after this date. But after the row last year, Germany squeezed a further compromise out of Brussels, which will now also allow new combustion engine cars to be sold beyond the deadline if they use efuels.


The fire is passed down from generation to generation丨The clouds sail across the sea and sail across the waves

In an insightful discussion about the evolution of maritime heritage in China, one fascinating story surfaces from Quanzhou. Over the last 24 years, this city has seen a remarkable bridge being built, connecting its rich maritime past to the present, guided by Xi Jinping’s cultural vision. It all began back in 1999 when Xi, then the governor of Fujian Province, issued a directive to establish the Quanzhou Maritime Museum, highlighting its crucial role in cultural development.

This initiative goes beyond mere bureaucracy; it signifies a profound commitment to preserving China’s illustrious shipbuilding and maritime history. Quanzhou, with over 1,300 years of history, once served as the starting point of the ancient Maritime Silk Road. During the Song and Yuan dynasties, it was reputed as the “first major port of the East,” facilitating vibrant maritime trade with nearly 100 countries.

The ships from Quanzhou introduced innovative watertight compartment technology that significantly advanced China’s nautical capabilities, a contribution to global maritime technology that European shipbuilders would not adopt until the late 18th century.

After the establishment of the People’s Republic of China, academics pushed for the creation of a museum dedicated to Chinese ship models, celebrating the country’s exceptional shipbuilding heritage and maritime civilization.

Taking on this challenge, the Quanzhou Maritime Museum launched a large-scale project to reconstruct ancient wooden sailing ships. Over eight years, a team of experts and craftsmen produced 156 ship models, including famous vessels from various dynasties and recreations of Zheng He’s fleet during his voyages to the West.

However, a major hurdle emerged when, despite their hard work, funds were lacking for a display hall. Wang Lianmao, the museum’s director, faced a difficult situation and decided to reach out to then-Governor Xi Jinping for support.

Upon learning of their plight, Xi immediately recognized the significance of this initiative and called for prompt action. He emphasized, “Fujian is the center of ancient Chinese shipbuilding, and Quanzhou is the start of the Maritime Silk Road; building a museum to showcase the history of ancient ship development is fitting, meaningful, and fundamentally viable.” He stressed the urgency of their report.

With Xi’s endorsement, funding for the exhibition hall was swiftly arranged. Construction of the Ancient Ship Development History Exhibition Hall commenced in February 2001, and just two months later, Xi visited the site to admire the undertaking.

By the summer of that year, the hall opened its doors, marking the first comprehensive exhibition of China’s maritime history and its notable achievements as a maritime power. Inside, visitors could explore an array of ship models, shipbuilding techniques, navigational tools, and artifacts from overseas trade, all reflecting ancient China’s rich interactions with various civilizations.

On May 18, 2024, during a reflection on Quanzhou’s vibrant cultural heritage, Xi expressed his pride in the city’s history. Later that year, he convened a meeting to advance the application for the “Maritime Silk Road: Quanzhou Historical Sites” to be listed as a UNESCO World Heritage site, a goal successfully achieved by 2021, further entrenching Quanzhou’s significance.

Today, as China embarks on a new era of maritime exploration—highlighted by the launch of a domestic cruise ship in early 2024—the country continues to embody the spirit of innovation and resilience. From the wooden ships of the past to modern cruise liners, this journey symbolizes not only technological transformation but also the relentless spirit of the Chinese people, determined to sail confidently into the future.


My youth, my -job- road – Liao Liping- Turn electricity into light, light up thousands of lights

**Interview with Liao Liping, a Senior Engineer at State Grid Zhuzhou Company**

In the realm of power production, few can match the dedication and resilience of Liao Liping, a senior engineer at the State Grid Zhuzhou Company. With 27 years of experience under her belt, Liao has garnered numerous accolades, including National Model Worker and Outstanding Female Craftsman from Hunan. We had the privilege of discussing her journey and insights on the significance of her work.

**Interviewer:** Liao, many believe that working on the front lines of the power grid is an arduous task, especially for women. What inspired you to pursue this path?

**Liao Liping:** Indeed, it’s often said that the grassroots level can be tough, and many female colleagues shy away from these roles. However, I view life as a journey of self-discovery and growth. Regardless of the career path we choose, dedication and hard work allow us to uncover our best selves.

**Interviewer:** You’ve spent two decades at the Zhuzhou Power Supply Company. Can you share your initial experiences?

**Liao Liping:** I began my career in 1997 as a duty officer. My father always emphasized the importance of the power grid for national development, and he reminded me that any lapse in attention could have serious consequences. Back then, our equipment was quite outdated, and handling failures was critical. Working in sweltering heat and biting cold was a challenge, but I forged a connection with each piece of equipment, feeling that they all have a certain spirit.

**Interviewer:** Your passion for your work is evident. How do you stay engaged, especially with the technical side of the job?

**Liao Liping:** I keep a small notebook filled with data analyses and schematics because every detail counts when it comes to equipment safety. While I don’t have many hobbies, I find joy in delving into blueprints and understanding the ins and outs of our machinery. This dedication has helped me achieve recognition in technical competitions at various levels.

**Interviewer:** After becoming the leader of the maintenance team in 2021, how has your role evolved?

**Liao Liping:** Leading a team of 200, responsible for 120 substations, has certainly shifted my daily routine. Inspection, maintenance, and emergency repairs are part of my life now. I often find myself working beside my team in trenches or climbing structures. Despite the fatigue, there’s satisfaction in solving problems together.

**Interviewer:** Your achievements are impressive! Can you highlight some of the impactful projects you’ve led?

**Liao Liping:** I’ve guided my team in renovating over 120 substations and commissioning ten new smart substations. We’ve crafted standardized procedures and generated over 200 work tickets, achieving zero errors across 100,000 operations. Our fault management handbook has also become an invaluable training resource.

**Interviewer:** Training the next generation seems to be a priority for you. How do you approach that?

**Liao Liping:** Absolutely! The “Liao Liping Model Worker Innovation Studio” was established in November 2011 to help young talent with career planning and technical skill development. I ensure they learn vital skills—from wiring to pressure testing—so they approach their work with confidence and competence.

**Interviewer:** Innovation appears to be a cornerstone of your work. Can you share an example?

**Liao Liping:** One of our key products, the “Universal Grounding Clamp,” originated from addressing practical challenges. Our maintenance workers struggled with clamps slipping off vertical wires. After extensive brainstorming, we developed a third-generation clamp that significantly improved safety and reduced maintenance time.

**Interviewer:** It sounds like your innovation studio has made a real impact in the power sector.

**Liao Liping:** Indeed! We’ve secured multiple national patents and contributed numerous innovative results, filling gaps in technology. Witnessing the young professionals we’ve trained excel in their roles brings me immense pride.

**Interviewer:** Lastly, what is the broader significance of your work?

**Liao Liping:** Our role goes beyond simply providing power; we protect the integrity and stability of the national grid. Each team member is essential in maintaining these critical assets. I aspire to be like a dandelion in the power grid—spreading knowledge and illuminating every corner. My goal is to nurture a vibrant landscape with the light we create together.


Patriots captain Peppers arrested over drug, strangulation and assault charges

During a recent court appearance, 29-year-old Patriots safety Jabrill Peppers pleaded not guilty to multiple charges, including assault, strangulation, and possession of cocaine, stemming from an incident over the weekend.

According to the Braintree, Massachusetts police, they responded to a residential disturbance early Saturday morning. Authorities allege that Peppers shoved a woman to the ground, pressed her head against a wall, and placed his hands around her neck. The woman reported that Peppers choked her several times and forcibly removed her from the premises. Although she received medical assistance on-site, she chose not to be hospitalized.

On Monday, Peppers formally entered his not guilty plea to various charges, including assault and battery with a dangerous weapon. After posting a $2,500 bail, his attorney, Marc Brofsky, expressed confidence in Peppers’ defense, highlighting the existence of evidence, including video footage, that he believes casts significant doubt on the allegations. Brofsky also mentioned that Peppers has agreed to refrain from any contact with the alleged victim.

The New England Patriots issued a statement confirming their awareness of the ongoing investigation but refrained from providing further comment at this time. Patriots head coach Jerod Mayo indicated that Peppers is currently permitted to access the team’s facilities, citing a lack of sufficient information to make a conclusive judgment.

As a team captain, Peppers did not participate in the Patriots’ recent game against the Miami Dolphins due to a shoulder injury. This past summer, he signed a $24 million contract extension with the Patriots, marking his third season with the team. Before his time in New England, Peppers was drafted by the Cleveland Browns in 2017 and also spent three seasons with the New York Giants.


The first batch of avocados imported from South Africa entered the country through Shanghai Yangshan Port

On October 10th, the Shanghai Yangshan Customs announced a significant achievement in agricultural trade that caught the attention of reporter Jiang Yu. On October 8th, Shanghai Yangshan Port proudly welcomed China’s very first shipment of imported avocados from South Africa. After a thorough inspection by customs officials that morning, a total of 22 tons of avocados were successfully cleared for entry into the port.

This landmark arrival wasn’t just another shipment; it marked a crucial moment for South African exports to China, as customs officials conducted on-site evaluations of the avocados. In August, the General Administration of Customs released a list of South African avocado suppliers that met the necessary Chinese standards, making South Africa the third African country — after Kenya and Tanzania — to gain access for fresh avocado exports to China.

With the upcoming 2024 China-Africa Cooperation Forum set to take place in Beijing, several cooperation agreements have already been signed regarding agricultural imports from various African nations. Notably, this year alone, China has established 16 protocols for agricultural imports with 14 African countries. The trade relationship between China and Africa continues to strengthen, with imports of African agricultural products soaring to 28.47 billion yuan from January to August 2023, reflecting a 4.8% increase year-over-year.

Shanghai is emerging as a vital hub for importing African agricultural products. In the first eight months of 2023, the total value of African agricultural imports through Shanghai Port reached 6.12 billion yuan, marking a remarkable 15.5% increase.

Sha Qian, deputy director of the inspection section at Yangshan Customs, shared insights on the newly established “green channel” for African agricultural imports, designed to streamline customs processes. “This initiative prioritizes inspection and clearance procedures to facilitate smoother entry for these products,” Sha explained.

The customs team was diligent in adhering to all protocols and operational guidelines, carefully reviewing the phytosanitary certificates for the avocados. They ensured the accuracy of orchard and packaging facility numbers and conducted thorough on-site inspections, including sampling for laboratory testing against potential quarantine pests, such as the Mediterranean fruit fly and avocado sunblotch virus. This rigorous approach is essential in safeguarding against the introduction of harmful pests into the country.


The Embassy in Fiji held a reception to celebrate the 75th anniversary of the founding of the People’s Republic of China

On September 19, Suva, the capital of Fiji, was beautifully adorned with the Chinese flag as the Chinese Embassy hosted a grand reception at the Pacific Hotel to commemorate the 75th anniversary of the establishment of the People’s Republic of China. The event brought together a distinguished gathering, including Fiji’s President Waqa Katonivere, Deputy Prime Minister Prasad, Acting Chief Justice Temu, cabinet ministers, members of parliament, and around 400 attendees from various sectors. Among them were diplomats from multiple countries, representatives from international and regional organizations, and a significant number of Chinese expatriates and experts in Fiji.

The celebration began with local youth performing a joint rendition of the national anthems of both China and Fiji. A promotional video showcased the impressive strides of Chinese modernization and highlighted Fijian Prime Minister Rabuka’s recent visit to China, along with a summary of collaborative achievements over the past year.

Ambassador Zhou Jian delivered a keynote speech, reflecting on the impactful moments from Prime Minister Rabuka’s visit to China. He encouraged guests to appreciate the transformative changes China has experienced in the past 75 years. Emphasizing the successful diplomatic efforts of the last year, Ambassador Zhou pointed out that the roadmap for China-Fiji cooperation has become increasingly clear. He recalled the significant meeting between President Xi Jinping and Prime Minister Rabuka in San Francisco last year and their recent discussions in Beijing, which outlined a timeline and blueprint for enhancing bilateral relations.

Ambassador Zhou underscored the deepening mutual support between China and Fiji, citing successful projects such as improvements to North Island roadways, the handover of the Suva multi-purpose stadium, and innovative mushroom cultivation techniques. Chinese-funded solar streetlights and power generation equipment have also brightened towns and villages throughout Fiji. Furthermore, Fiji has staunchly supported China’s sovereignty and territorial integrity.

The ambassador noted the strengthening of people-to-people exchanges, with Fijian chiefs visiting China and numerous delegations from Chinese regions coming to Fiji. The scholarships and training programs provided by the Chinese government have equipped Fijian students and professionals with valuable skills. Additionally, medical teams from Guangdong have helped restore sight to cataract patients, while cultural initiatives like the Chinese Bridge have fostered greater understanding of Chinese culture.

As next year marks the 50th anniversary of diplomatic relations between China and Fiji, Ambassador Zhou expressed optimism for future collaborations that would benefit both nations. He emphasized the importance of mutual respect to strengthen political trust and reaffirmed China’s commitment to honoring Fiji’s sovereignty, independence, and diverse cultural heritage.

Zhou also called for enhanced cooperation to accelerate high-quality development under the Belt and Road Initiative and the Global Development Initiative. He indicated plans to advance key projects like the North Island road and deepen practical cooperation, ensuring that developmentally beneficial outcomes reach the people of Fiji while supporting sustainable growth.

Cultural exchanges are expected to remain a focal point, with China planning to send more artistic groups to Fiji, establish medical teams on the islands, and expand scholarship opportunities. The ambassador expressed his readiness to collaborate with Fiji on establishing direct flights between the two nations and welcomed more Fijian friends to visit China, aiming to create vibrant stories of exchange.

In addressing shared global challenges, both countries emphasized their commitment to a harmonious future for humanity. Ambassador Zhou reiterated the peaceful intentions of both nations in tackling global issues together, highlighting the principles of unity over division, collaboration over confrontation, and shared benefits over zero-sum scenarios.

In closing, Zhou celebrated the achievements of the Fijian national rugby team, commending their dedication to elevating Fiji’s flag at the Olympics. He expressed his confidence that the future of China-Fiji relations, much like the Fijian rugby team, would continue to overcome challenges and attain remarkable success.

Paul Doriwa, the Director of the Fijian Ministry of Foreign Affairs, represented the Fijian government in offering a toast, warmly congratulating China on its 75th anniversary.

Following this, a cake cutting ceremony took place, with Ambassador Zhou joining Fijian leaders to express heartfelt wishes for China’s prosperity and the enduring friendship between China and Fiji. A performance by an art troupe from Guangzhou delighted attendees with vibrant dances, melodies, and acrobatics inspired by traditional Chinese culture, particularly from the Lingnan region. Young Fijian students from Yixian School showcased their fluency in Chinese by performing popular songs, while female embassy staff presented a stunning Hanfu fashion show. In a surprise guest appearance, the celebrated Fijian rugby team engaged attendees with a raffle for signed jerseys. The event radiated vibrancy and excitement, emphasizing the cultural integration between China and Fiji and the profound friendship shared by their peoples.

The reception was characterized by a warm atmosphere, with guests congratulating the People’s Republic of China on its anniversary, expressing gratitude for China’s contributions to Fiji’s development, and wishing for a lasting friendship. Outside the venue, a photo exhibition highlighting China’s strong infrastructure capabilities, presented by the Guizhou Bridge, was displayed alongside an electric vehicle exhibition by Shanghai Automotive Group, showcasing China’s commitment to promoting green transformation. Booths set up by the Confucius Institute at the University of the South Pacific, the China-Pacific Island Nations Mushroom Grass Technology Demonstration Center, and representatives from the third phase of the Agricultural Development Technical Project in Fiji vividly illustrated recent cultural exchange achievements and agricultural cooperation, captivating the interest of guests.


Hundreds of families participate in Genting’s first Challenge 2100 parent-child cross-country racing competition

On October 2nd, the first-ever Challenge 2100 Parent-Child Trail Running Race wrapped up at Yunding Ski Resort in Zhangjiakou, Hebei Province, drawing hundreds of families from across the nation. Participants witnessed an inspiring display of teamwork as parents and children faced various obstacles together, fully embracing the challenges of the race.

According to the event organizers, this race, hosted by Yunding Ski Resort, was designed to encourage family interaction and cooperation through shared participation, all while promoting a healthy and active lifestyle. The 5-kilometer course included a variety of natural terrains, from mountains to forests, offering participants an exciting off-road experience.

Many families commented on how the event not only helped children develop physical and mental resilience but also strengthened emotional bonds and teamwork between parents and their kids. To honor outstanding family participants, the organizing committee provided generous prizes and awards. A particularly memorable moment of the ceremony was when trophies for the winning young athletes were presented by their parents, creating a special and unforgettable experience for these families.

Beyond the exhilarating race, the organizers also curated a Parent-Child Carnival filled with engaging activities. Following the race, families enjoyed a variety of fun games, fostering a light-hearted and enjoyable atmosphere.

With the event’s successful conclusion, Yunding Ski Resort reaffirmed its status as a premier venue, having previously hosted the 2022 Beijing Winter Olympics and Paralympics. In the post-Olympic era, Yunding Ski Resort is actively promoting the growth of youth skiing through various initiatives, expanding its year-round offerings, and providing more opportunities for young athletes to train and compete in skiing events.


Rio Tinto wants to acquire U.S. lithium miner Arcadium, shareholders expect high premium, stock price soars 50%

Rio Tinto, recognized as the world’s second-largest mining company, has confirmed that it’s made a non-binding acquisition proposal for Arcadium Lithium, a U.S.-based lithium producer valued at around $3.3 billion. In a statement released on Monday, Rio Tinto acknowledged the proposal but emphasized that the likelihood of a successful transaction remains uncertain, without providing specific financial details. Following this announcement, shares of Arcadium saw a substantial increase.

This year has been challenging for lithium stocks, primarily due to an oversupply in the market and lower-than-expected demand from the electric vehicle sector. Arcadium, in particular, has underperformed relative to its peers, leading to widespread speculation about its potential as a takeover target in recent months. Early trading on Monday saw the company’s Australian-listed Depository Receipts surge by 50%, marking the largest rise since its debut last December.

Citi analyst Paul Taggart had suggested back in July that Rio Tinto should explore acquiring Arcadium, arguing that the company’s current valuation is significantly below its reset value. He noted that acquiring Arcadium would be a more cost-effective strategy than building new high-quality lithium assets from the ground up.

If the acquisition is successful, Rio Tinto would secure its position as the third-largest supplier of metals for electric vehicles, following behind Albemarle and SQM.

In an interview with CNBC, Saul Kavonic, head of energy research at MST Marquee, pointed out that Rio Tinto has been closely monitoring lithium prices in anticipation of a potential acquisition, with the aim of creating a globally scaled lithium division.

Investors in Arcadium, including Sydney-based Blackwattle Investment Partners, have expressed their opinions to the company’s board through a letter from portfolio managers Tim Riordan and Michael Teran. They indicated that while a potential acquisition at this stage may seem opportunistic, there is a pressing need for a significant premium to accurately reflect the company’s fair valuation. They warned that selling at this moment could greatly diminish value for shareholders, especially as the global lithium market appears to be stabilizing and the company’s valuation should approach $8 billion.

For Rio Tinto to finalize any deal, it must gain the approval of both Arcadium’s board and its shareholders.


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