Rio Tinto and Glencore Discuss £130bn Merger to Overtake BHP

Rio Tinto and Glencore, two major players in the mining industry, are reportedly in discussions regarding a potential merger that could create a company valued at approximately £130 billion. This merger, if realized, would dethrone BHP as the leader in the mining sector and mark the largest deal ever in the industry. The merger discussions emerge amidst a trend of acquisitions aimed at increasing copper production, driven by the metal's significance in the transition to green energy. Glencore, with a market capitalization of nearly £45 billion, recently acquired Teck Resources’ steelmaking coal unit for £5.6 billion. Despite the potential for large deals, both companies have been noted for caution, as such transactions pose significant risk to their operations. Bloomberg reports that it is unclear whether the talks are ongoing, and both companies have declined to comment on market speculation.