Rio Tinto Eyes Glencore
Rio Tinto likely to bid for Glencore, driven by copper supply needs
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Mining.comAccording to RBC Capital Markets, Rio Tinto is expected to make an all-share offer for Glencore, driven by the desire to control future copper supply. As reported by Mining.com, a premium of 15% to 30% to Glencore's early January share price could get the deal done, valuing Glencore at up to $87 billion. The merger would create the world's largest miner, leapfrogging BHP, and significantly boost Rio Tinto's long-term copper exposure. Copper prices have set multiple records in recent weeks, fueled by supply disruptions and US trade uncertainty. Rio Tinto's bid for Glencore is seen as a strategic move to secure copper assets, with Glencore's copper assets being the real prize.