Rio Tinto in talks to acquire Glencore in deal that would make it world's largest miner

Glencore announced it is in preliminary discussions on an all‑share merger with Rio Tinto that the article says could create the world's largest mining company; the statement added there is no certainty a deal will be agreed.

Rio Tinto and Glencore are reported to be in early merger talks that could combine the two companies into the largest miner globally. The article says the proposal would be an all‑share deal and notes Rio Tinto is already substantially larger by market value. The discussions come as several major mining firms are pursuing consolidation and investing in copper and other critical minerals. Previously, the two firms held talks in 2024 that did not produce an agreement. Key details: - Glencore said it is in "preliminary discussions" about an all‑share merger and published a statement noting there is no certainty a transaction will be agreed. - The article reports the takeover proposal would be worth more than US$70 billion. - The article says Rio Tinto has a market capitalization of about US$139 billion, roughly twice the size of Glencore. - Rio Tinto has about 10,500 employees in Canada, including at aluminum refineries in Quebec; Glencore has about 11,400 employees in Canada, including mines in Sudbury, Ontario and coal operations in British Columbia's Elk Valley. - In December, shareholders in Anglo American and Teck Resources agreed to a US$20 billion merger, reflecting broader sector consolidation. - Earlier merger talks between Rio Tinto and Glencore in 2024 fell apart over control of the combined company and the future of Glencore's large coal business. Summary: A completed merger would create the world's largest miner and expand the combined company's scale in Canadian critical minerals and other commodities. Undetermined at this time.