Rio Tinto in Talks to Buy Glencore in Potential Mega-Merger

Glencore shares jumped by more than 8 percent on Jan. 9 as Rio Tinto slid about 3 percent.

Mining giant Rio Tinto's corporate office in Perth, Australia, on Sept. 20, 2025. Wade Zhong/The Epoch Times

Rio Tinto is in early discussions to buy rival Glencore, the two companies said this week, a move that could create the world’s largest mining company with a combined market value of nearly $207 billion.

The talks, which remain preliminary, were disclosed by Glencore in a Jan. 8 statement and confirmed by Rio Tinto a day later. Both companies said there is no certainty that a deal will be agreed, nor clarity yet on its structure or terms.