Rio Tinto bets on Glencore: mega merger value 260 billion proposed | EUROtoday

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The danger begins once more among the many uncooked supplies giants. Glencore mentioned late on Thursday it was in preliminary talks to be acquired by Rio Tinto, in a deal that might doubtlessly create the world’s largest mining firm.

According to the Financial Times, which first reported the information, the mixed firm would have an enterprise worth of greater than $260 billion.

“Glencore confirms that it is in preliminary discussions with Rio Tinto regarding a possible combination of some or all of their respective businesses, which could include an all-stock merger between Rio Tinto and Glencore,” the corporate mentioned in a press release.

US-listed shares of Glencore rose 6% after the corporate confirmed the talks, whereas US-listed shares of Rio Tinto fell 0.6%.

Rio Tinto, the world’s largest iron ore producer, has a market capitalization of about $142 billion, whereas Glencore is valued at $65 billion. Glencore had approached Rio Tinto in 2024 to discover a mix between the 2 giant copper producers, however the talks have been short-lived.