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PRESS: Rio Tinto and Glencore in potential merger talks - Bloomberg

Thu, 16th Jan 2025 19:24

(Alliance News) - Rio Tinto PLC and Glencore PLC have been discussing combining their businesses in what could result in the industry's largest-ever deal, Bloomberg said on Thursday.

According to Bloomberg sources, Rio and Glencore have recently held early-stage talks about a deal, although it is unclear whether the talks are still live.

Rio Tinto is British-Australian multinational company that is the world's second-largest metals and mining corporation. At Thursday's closing share price of 4,931.50 pence, it had a market value of GBP85.51 billion.

Glencore is a commodities trader and miner based in Barr, Switzerland. At Thursday's closing share price of 370.50p, it had a market value of GBP45.49 billion.

Combining the two businesses would potentially create a company to leapfrog longstanding industry leader BHP Group, which is worth about USD126 billion.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

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