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Rio Tinto Eyes Glencore: A $207 Billion Mining Merger?

1/9/2026

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Summary

Story summary

Rio Tinto is in early talks to acquire Glencore, potentially creating the world's largest mining company valued near $207 billion.
Both companies shift toward copper, with demand expected to rise about 50% by 2040.
Analysts warn about Glencore's coal assets and the risk of overpaying for the deal.
Discussions resumed after Rio Tinto's leadership change, with new CEO Simon Trott favoring large-scale deals.

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Story summary

Rio Tinto is in early talks to acquire Glencore, potentially creating the world's largest mining company valued near $207 billion.
Both companies shift toward copper, with demand expected to rise about 50% by 2040.
Analysts warn about Glencore's coal assets and the risk of overpaying for the deal.
Discussions resumed after Rio Tinto's leadership change, with new CEO Simon Trott favoring large-scale deals.