Rio Is Said to Draw Interest for Critical Mineral Assets in California

Rio Tinto Group has drawn interest from more than a dozen potential bidders for its US assets that produce the critical mineral boron, according to people familiar with the matter.

The Anglo-Australian company could fetch around $2 billion for the assets, according to the people, who asked not to be named discussing private information. WE Soda, Magris Resources Inc., and US Silica Holdings Inc. are among the firms interested in buying Rio’s boron assets in California, they said. Boron is used in fertilizers as well as in high-tech applications such as heat-resistant glass and materials for renewable energy.