(Updates from paragraph 2 onwards)
March 13 (Reuters) - JPMorgan Chase (JPM.N) has taken a 5.36% stake in Australia’s mining conglomerate Rio Tinto (RIO.AX) , an exchange filing to the local bourse showed on Thursday.
This would make the investment bank Rio’s second-largest shareholder after global investment manager Vanguard Group’s 6.02% stake, according to data compiled by LSEG.
Last week, the Anglo-Australian mining giant completed its $6.7 billion acquisition of the U.S.-based Arcadium Lithium (LTM.AX) , as it looks to diversify away from iron ore towards critical minerals and battery metals such as lithium.
Rio on Wednesday said it will raise $9 billion in U.S. investment-grade bonds as it seeks to fund the Arcadium buyout.

JPMorgan Chase has acquired a 5.36% stake in Rio Tinto, making it the second-largest shareholder after Vanguard Group. This investment follows Rio Tinto's recent $6.7 billion acquisition of Arcadium Lithium, aimed at diversifying into critical minerals. Additionally, Rio Tinto plans to raise $9 billion through U.S. investment-grade bonds to finance the acquisition.

- JPMorgan Chase has acquired a 5.36% stake in Australia's mining company Rio Tinto, making it the second-largest shareholder.  
- This investment follows Rio Tinto's recent $6.7 billion acquisition of Arcadium Lithium, aimed at diversifying into critical minerals and battery metals.  
- To finance the acquisition, Rio Tinto plans to raise $9 billion through U.S. investment-grade bonds.  

JPMorgan scoops over 5% stake in mining major Rio Tinto