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South African govt Gary Nagle is in talks to merge Swiss mining and commodity buying and selling large Glencore Plc with world mining chief Rio Tinto. The deliberate merger, if finalized, would create a mining firm valued at greater than $260 billion, one of many largest ever within the sector, reflecting a renewed deal with metals that energy the inexperienced financial system, signaling a interval of strategic consolidation in mining that might reshape the sector for years.
The renewed talks, which gained power on Friday, January 9, 2026, come simply over a 12 months after earlier merger discussions between the 2 firms fell aside. Each Glencore and Rio confirmed they’re in “preliminary discussions” a couple of “attainable mixture of some or all of their companies, which may embody an all-share merger.” In personal conversations, Nagle described a Glencore-Rio tie-up as “the obvious deal within the business.”
Merger blends coal, copper, iron belongings
A merger would give the mixed firm a commanding presence in copper and iron, two metals essential to the vitality transition and world infrastructure. Copper costs have not too long ago approached report highs, reflecting sturdy demand for clear vitality applied sciences. The deal would mark the most important consolidation in an business already energetic with acquisitions, although potential challenges stay. Glencore stays one of many world’s largest coal producers, a sector Rio has exited, thus elevating questions on aligning methods.
Regardless of variations in company tradition, each firms have vital copper belongings. Nagle has mentioned Glencore goals to develop into “the largest copper producer on the earth.” The merger would place the brand new firm to compete straight with BHP Group, the world’s largest mining agency. For Rio, the deal would broaden copper output and provides it a stake in Chile’s Collahuasi mine, one of many richest deposits globally. Each Rio and BHP nonetheless rely closely on iron ore, a market dealing with slower demand as China’s development progress slows.
Glencore accelerates world copper investments
Glencore is among the most energetic consumers of copper belongings not too long ago. Underneath Nagle, it has revealed plans to just about double copper output. Glencore declared in August 2025 that it could invest $13.5 billion in copper projects in Argentina. In December 2025, it acquired full possession of Peru’s Quechua copper venture, close to the Antapaccay mine, after JX exited the enterprise. The corporate additionally secured $395 million in Australian help to take care of operations on the Mount Isa copper smelter whereas increasing vitality and refining acquisitions throughout Asia.
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