In a move that could redefine the global commodities market, mining giants Rio Tinto and Glencore have officially resumed negotiations for a potential all-share merger. If successful, the deal would create a $260 billion titan, establishing the world’s largest mining company
The Catalyst: Renewed interest is primarily driven by the surging demand for copper, which hit a record high of $13,000 per ton this week. Both companies are eager to consolidate their copper and lithium portfolios to dominate the green energy supply chain
Strategic Shift: This marks a significant turnaround from late 2024, when talks collapsed over valuation disagreements and concerns regarding Glencore’s coal assets. Current discussions suggest a structure where Rio Tinto would acquire Glencore via a court-sanctioned scheme, focusing on a streamlined core of iron ore, aluminum, and transition metals
