economy

January 9, 2026

Glencore shares pop 10% as firm restarts mega-merger talks with Rio Tinto

If completed, the deal would see the formation of the world’s biggest mining company.

Glencore shares pop 10% as firm restarts mega-merger talks with Rio Tinto

TL;DR

  • Rio Tinto and Glencore are in preliminary talks for a potential $260 billion merger.
  • The proposed deal could create the world's largest mining company.
  • Discussions previously collapsed in late 2024 over valuation and coal mine assets.
  • The resumption of talks is partly driven by rising copper prices, which have hit an all-time high.
  • Rio Tinto has until February 5th to announce a firm intention to make an offer.
  • Analysts suggest Glencore's coal business might be spun off as a separate entity.
  • The mining sector has seen other significant M&A activity, including a recent deal between Anglo American and Teck Resources.

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