Materials demand pushes merger talk by mining giants | Decarbonisation News
The growth in decarbonisation and rising copper demand to drive electrification have brought mining giants Rio Tinto and Glencore to the table to explore a $260bn merger. Rio Tinto confirmed it had been engaging “in preliminary discussions” about a possible combination of some or all of its businesses, which could include an all-share merger. But it added there was “no certainty” that an offer would be made. Rio Tinto, which operates in 35 countries, is continuously searching for new projects that can support the energy transition. It is currently exploring seven commodities in 17 countries, and its market capitalisation ranges between $132bn and $144bn. Glencore’s capitalisation is significantly lower, at around $69bn, but its large base metals portfolio, including significant copper and cobalt assets, would complement Rio Tinto’s global iron ore and aluminium operations. Glencore… Read More »Materials demand pushes merger talk by mining giants | Decarbonisation News