Rio Tinto and Glencore Discuss Potential Merger, Could Rival BHP in Largest Deal in Mining History

Jan 16, 2025, 09:41 PM

Rio Tinto Group, valued at $103 billion, and Glencore Plc, valued at $55 billion, have engaged in early-stage discussions about combining their businesses, which could potentially result in the largest deal in the history of the mining industry. The talks, if successful, would create a mining giant capable of rivaling the industry leader, BHP Group, which is valued at $126 billion. According to people familiar with the matter, the discussions have been confidential and it remains unclear whether they are ongoing. The potential merger could reshape the global mining landscape, with Rio Tinto gaining access to Glencore's assets, including a stake in the Collahuasi copper mine in Chile, one of the world's richest deposits. Both companies have declined to comment on the talks.