Glencore and Rio Tinto Resume Talks on Potential Merger

Glencore and Rio Tinto said on Friday that they had revived talks about a possible merger, saying separately that they were weighing a potential transaction that could include an all‑stock combination; both companies are listed on the London Stock Exchange.

The companies said the most likely outcome would see Rio Tinto, whose market capitalization is roughly twice as big as Glencore’s, acquire its smaller rival. Together the firms would have a combined market value of roughly 150 billion pounds, or $201 billion.

The renewed negotiations come amid a broader surge in deal‑making in the mining sector as demand for copper and other metals has risen. The article said copper hit record prices over the past year amid demand from clean‑energy and technology industries and uncertainty over President Trump’s plans to impose levies on the metal. It noted prior industry moves, including the Anglo American–Teck deal and other bids and restructurings, and said Glencore has reshuffled its business mix while Rio Tinto left coal nearly a decade ago.

Both companies cautioned they might not reach an agreement by a Feb. 5 regulatory deadline. Market reaction to the announcement was mixed: Glencore’s shares jumped nearly 10 percent on Friday, while Rio Tinto’s London shares fell more than 2 percent and its Australian shares fell more than 6 percent.

Key Topics

Business, Glencore, Rio Tinto, Copper, London Stock Exchange, Simon Trott