JPMorgan has acquired a 5.36% stake in Rio Tinto (RIO.US), solidifying its position as the second-largest shareholder.

According to a document filed with the London Stock Exchange on Thursday, JPMorgan has acquired a 5.36% stake in Rio Tinto (RIO.US), making it the second-largest shareholder in the Australian mining giant behind Vanguard Group, which owns 6.02%.

Reports on Tuesday showed Rio Tinto raised $9bn in investment-grade bonds to fund its acquisition of Arcadium Lithium, attracting more than $50bn in investor interest, indicating strong market recognition of Rio Tinto's financing activity. Rio Tinto sold eight maturities of corporate bonds, with a 40-year yield 1.33 percentage points higher than comparable US Treasuries, according to people familiar with the matter.

Rio Tinto officially announced the completion of its acquisition of Arcadium Lithium on Wednesday, with a deal worth $6.7bn. The deal marks a key step in Rio Tinto's strategic layout in the lithium business. It is reported that Rio Tinto reached an acquisition agreement with Arcadium Lithium on October 9, 2024, planning to acquire it through an all-cash transaction at $5.85 per share. The acquisition offer, which is 90 per cent higher than Arcadium Lithium's closing price of $3.08 on October 4, highlights Rio Tinto's determination to acquire Arcadium Lithium and its high recognition of the asset's value.