Rio Tinto and Glencore resume talks to form world's largest mining company

Rio Tinto and Glencore have confirmed renewed merger talks after negotiations collapsed just over a year ago; a combined Rio Tinto ($142 billion) and Glencore ($65 billion) would surpass current leader BHP ($161 billion).

Rio Tinto and Glencore have confirmed they are once again in discussions about a possible merger. Initial negotiations between the two companies collapsed just over a year ago. If the talks progressed to a completed deal, the combined company would be larger than the current market leader in the sector. The companies have not announced a timetable or next procedural steps. Key details: - Both Rio Tinto and Glencore have confirmed that merger discussions have resumed. - Initial negotiations between the two firms collapsed just over a year ago. - Combined market capitalisations cited are Rio Tinto $142 billion and Glencore $65 billion, compared with BHP at $161 billion (US$107.79 billion). - If completed, the merger would create the world's largest mining company by market value. Summary: A renewed merger discussion between Rio Tinto and Glencore would, if completed, create a company larger than the current market leader BHP. Undetermined at this time.