Benchmark Mineral Intelligence buys Rho Motion for about $50-million
Benchmark Mineral Intelligence, a UK-based provider of critical minerals pricing and data, said it had bought smaller peer Rho Motion in a deal that will make it one of the world’s largest sources of market information for the electric vehicle supply chain.
Subscription-based Benchmark supplies minerals-related data for miners, battery makers, politicians and others. Rho Motion, founded in 2018, has long focused further downstream in the supply chain, tracking EV sales, battery installations, recycling, rare earth magnet production and related areas.The buyout is Benchmark’s first transaction since private equity fund Spectrum Equity bought a 20 per cent stake in the London-based firm last November.
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