Glencore and Rio Tinto revived merger talks that would create the world’s largest mining company, as global demand surges for metals and minerals key to the energy transition and AI infrastructure buildout.
Negotiations between the pair collapsed in 2024, but have taken on renewed momentum after a recent deal combining Anglo American and Canada’s Teck Resources, the Financial Times noted, putting pressure on other mining giants to scale up to better access crucial minerals.
Copper prices in particular have surged to record highs in recent weeks as analysts warn of a looming supply shortfall: Copper is a necessary component for the huge wave of electrification being planned across much of the world.
