Rio Tinto Eyes Glencore Deal

According to reports from Mining.com, Rio Tinto is considering a significant reversal of its coal policy to facilitate a potential merger with Glencore, valued at nearly $207 billion. The move would create the world's largest mining company, with a strong focus on copper growth. As reported by Bloomberg, Rio Tinto is open to temporarily owning Glencore's coal business, which could be divested later. The talks underscore the mining industry's renewed wave of consolidation, driven by soaring copper prices and constrained supply. Analysts view Glencore's copper assets as attractive, while its coal business has been seen as a hurdle for potential buyers. The potential deal could have significant implications for the mining industry, particularly for companies like BHP, which has made previous bids for Anglo American.