Rio Tinto (ASX:RIO) and Glencore (LSE:GLEN) have recommenced buyout talks for a potential all-share merger, with an expectation that any merger between the two parties would be effective through the acquisition of Glencore by Rio Tinto through a court-sanctioned scheme of arrangement.
Rio Tinto has until 5pm GMT on 5 February 2026 to either announce their intention to make a firm offer to Glencore, or announce that no offer will be made.
The merger would create the world’s largest mining company, with a combined market value estimated to be between US$207 billion and US$260 billion.
Rio Tinto announced Simon Trott as the company’s new CEO in August 2025, steering a new direction for the company with a focus on restructuring, project performance, and partnerships with stakeholders.
The two companies previously held similar discussions in late 2024, but no deal went through at this time.
The companies will provide further updates as they progress their talks.
Write to Amy Rotman at Mining.com.au
Images: Rio Tinto
