Rio Tinto and Glencore End Merger Talks, Scrapping Plans for $200 Billion Mining Giant
Feb 5, 2026
Mining companies Rio Tinto and Glencore have announced they are no longer discussing a merger. The talks ended after both companies failed to agree on terms that would provide enough value to shareholders.
A deal between Rio Tinto and Glencore would have created the world's largest mining company, with a combined value of over $200 billion. This would have marked one of the biggest mergers in the mining industry.
After the announcement that the talks had collapsed, Glencore's share price dropped by about 8%. Rio Tinto stated this is the third time it has ended merger discussions with Glencore.
Why did Rio Tinto and Glencore end their merger talks?
They could not agree on terms that would deliver enough value to their shareholders.
What would the merger have meant for the mining industry?
The merger would have created the world's largest mining company, potentially reshaping the industry.
How did the announcement affect Glencore's stock?
Glencore's share price fell by about 8% after the talks ended.
Sources
Glencore and Rio abandon merger talks
Reuters
Reuters
Rio Tinto said on Thursday that it was no longer in talks with Glencore about a takeover that would have created the world's largest mining company, saying it could not reach an agreement that would deliver value to its shareholders.
Rio Tinto Abandons Mega-Merger Talks With Glencore
WSJ
WSJ
A deal would have created the world's largest mining company worth more than $200 billion. Glencore shares fell around 8%.
Rio Tinto and Glencore Abandon Plan for $200 Billion Merger. The Stocks Drop.
Barrons
Barrons
The two mining companies were discussing a merger.
How Glencore and Rio Tinto's core assets stack up
Reuters
Reuters
Rio Tinto walked away from a mega-mining deal with rival Glencore for the third time on Thursday.
Rio Tinto, Glencore end merger talks over price dispute
Proactive Investors
Proactive Investors
Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) and Glencore PLC (LSE:GLEN) said on Thursday they have ended merger discussions after failing to agree on terms, marking the collapse of what could have been one of the mining sector's most high-profile deals. Rio Tinto said it is no longer considering a m...
Failed Rio Tinto-Glencore Talks Show Big Copper Deals Are Hard to Do
WSJ
WSJ
Deal talks between miners Rio Tinto and Glencore came to nothing as differences on price couldn't be bridged.
What's next for Rio Tinto and Glencore after $260 billion megamerger aborted
Market Watch
Market Watch
The decision by Rio Tinto and Glencore to abandon merger talks now has analysts divided on the companies' prospects in what JPMorgan has called “the age of critical minerals.”
JPM analysts stay bullish on Rio Tinto in wake of collapsed Glencore merger talk...
Proactive Investors
Proactive Investors
Analysts at JPMorgan have resumed coverage of Rio Tinto Ltd at 'Overweight' with a £75.00 price target, signaling confidence in the mining giant's strategic positioning even as merger talks with Glencore PLC collapse. The note, a day after Rio Tinto confirmed it is no longer pursuing a merger or bus...
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