Arcadium Lithium (ALTM) shares surged 30% in premarket trading Monday after it confirmed that it has been approached by mining giant Ri🔥o Tinto () about an acquisition.

In respective statements, the companies said it's possible no deal will come from the approach and that they will not comment further unless an update is warranted.

A report in The Australian that Rio Tinto was 澳洲幸运5官方开奖结果体彩网:considering an acquisition in the lithium mining space sent a number o🐼f industry stocks, including Arcadium, higher last Friday.

Rio Tinto Looking To Increase Lithium Efforts

Rio Tinto has looked to increase its efforts in mining lithium, which is a key ingredient in batteries used to pow♒er electric vehicles (EVs), as well as personal electronics such as laptops and ce𝓰llphones.

The company's plan to build Europe's largest lithium mine in Serbia has received pushback from residents, which 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Jakob Stausholm has attributed to a "well-organized" disinformation campaign.

Arcadium shares were up 30% at $4.02 an hour before the opening bell, while Rio Tinto 澳洲幸运5官方开奖结果体彩网:American depositary receipts ♚(ADRs) edged 0.5% lower to $69.36.