Market
Will Rio Tinto acquire new copper assets in 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from Rio Tinto or credible financial news sources
Story
Rio Tinto and Glencore Discuss Largest-Ever Mining Deal, Talks No Longer Active
Jan 17, 2025, 12:35 AM
Rio Tinto Group and Glencore Plc have engaged in early-stage discussions about a potential merger, which could create the largest-ever deal in the mining industry. The talks, which took place late last year, are no longer active. The proposed combination aimed to form a mining giant to rival BHP Group, with a combined market value of approximately $158 billion, surpassing BHP's $126 billion. Rio Tinto, valued at about $103 billion and the world's second-largest miner, and Glencore, valued at about $55 billion and a major producer of coal and base metals, have different strategic focuses. Rio Tinto has been moving away from fossil fuels, exiting coal mining, while Glencore has expanded its coal operations. The merger would have provided Rio Tinto with access to Glencore's significant copper assets, crucial for the energy transition, although Glencore's coal business could have been a hurdle. Both companies declined to comment on the discussions. Rio Tinto previously rejected a merger offer from Glencore in 2014, highlighting the ongoing strategic divergence between the two firms. Copper remains central to the wave of deals in the sector.
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Copper • 25%
Other • 25%
Iron Ore • 25%
Aluminum • 25%
BHP maintains lead • 25%
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Merged entity leads • 25%
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