The British‑Australian mining concern Rio Tinto Group and the Swiss mining company Glencore Plc expect to extend the preparation period for the proposed deal to create the world's largest mining company in connection with the agreement on the cost of the merger. This is reported by foreign media.
Rio Tinto is considering the possibility of acquiring a share or all of Glencore's assets as part of a stock exchange. According to the law, the company must declare its firm intention to make an offer to acquire Glencore or abandon the proposed deal on February 5, 2026. At the same time, the value of the combined company may amount to $235 billion. Rio Tinto's market capitalization is $140 billion, while Glencore's assets are estimated at $60 billion.
Glencore's growing coal business generates huge cash flows, and its marketing business will help Rio become a more commercially oriented company. At the same time, any deal faces obstacles from Rio shareholders, who insist on a reasonable assessment of the value of Glencore's copper business, which has low performance due to falling production volumes.
Rio has engaged Evercore Inc., JPMorgan Chase & Co. and Macquarie Group Ltd. to prepare for the deal. A key priority for Rio is to maintain the position of Australian shareholders.
The proposed merger is the latest in a series of attempted mega-mergers between key mining companies aimed at increasing copper production and equity growth to attract global investors.
Rio Tinto Group is a British—Australian group of companies, one of the top three largest multinational mining and metallurgical concerns in the world. The company includes the operating companies Rio Tinto Limited (Australia) and Rio Tinto plc (UK). The headquarters are located in Melbourne and London.
Glencore is a Swiss trading, logistics and mining company producing coal, copper, zinc, nickel and cobalt. The company is also engaged in marketing and logistics (a network of warehouse facilities, transportation assets and distribution channels), production of agricultural goods and energy products. In 2024, revenue amounted to $231 billion. The headquarters is located in Bar (Switzerland).
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