Source: Reuters (via feed)
Swiss miner Glencore is nearing the appointment of Citi as its lead investment bank. The move is part of talks about a potential acquisition by Rio Tinto. If completed, the deal would create the world’s largest mining company. Sources close to the matter shared this information with Reuters. The combined entity’s value could exceed $200 billion.
Rio Tinto and Glencore have not publicly confirmed the discussions. Meanwhile, industry watchers are closely observing the development. The merger could reshape the mining sector’s competitive landscape. However, regulatory approvals and other steps remain uncertain.
Glencore’s engagement with Citi suggests progress in planned negotiations. Also, the selection of a lead adviser indicates seriousness about the potential deal. Nevertheless, no final agreement has been reached. The companies continue to evaluate strategic benefits and risks.
This deal would represent one of the largest consolidation moves in mining history. It would include major resources such as copper, coal, and metals.
The potential merger highlights ongoing consolidation trends in global mining, affecting market structures and investment banking advisory roles.
