{"id":83953,"date":"2026-06-14T16:21:33","date_gmt":"2026-06-14T16:21:33","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/83953\/"},"modified":"2026-06-14T16:21:33","modified_gmt":"2026-06-14T16:21:33","slug":"glencore-and-rio-tinto-in-preliminary-talks-over-a-potential-merger","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/83953\/","title":{"rendered":"Glencore and Rio Tinto in Preliminary Talks Over a Potential Merger"},"content":{"rendered":"

Glencore has confirmed that it is engaged in preliminary discussions with Rio Tinto \u201cregarding a possible combination of some or all of their businesses, which could include a merger by way of a share exchange between Rio Tinto and Glencore. The parties\u2019 current expectation is that any merger transaction would be carried out through the acquisition of Glencore by Rio Tinto via a court-sanctioned scheme of arrangement.\u201d<\/p>\n

By Panorama Minero<\/p>\n

Glencore\u2019s statement further notes: \u201cThere can be no certainty that the terms of any transaction or offer will be agreed, nor as to the terms or structure of any such transaction or offer should agreement be reached.\u201d<\/p>\n

With operations spanning dozens of countries across all five continents, Glencore and Rio Tinto share two key regions in common: South America and Australia. South America, in particular, carries significant weight given the copper footprint in Argentina, Chile, and Peru, as well as the lithium developments in Argentina\u2019s Northwest (NOA) region.<\/p>\n

An Analysis of Glencore and Rio Tinto<\/a>
\nCopper, a Decisive Commodity<\/a><\/p>\n

Glencore is one of the world\u2019s leading copper producers. Company projections place it among the top five global players, surpassed only by Codelco, BHP, and Freeport.<\/p>\n

At present, Glencore\u2019s copper production\u2014totaling 950,000 tonnes in 2024\u2014comes from a diversified portfolio of operations in Chile, Peru, Australia, and the DRC (Democratic Republic of the Congo). In the DRC, cobalt emerges as a significant by-product, positioning Glencore among the world\u2019s top three producers of this metal.<\/p>\n

Of particular note is Glencore\u2019s announcement in early December regarding the restart of operations at Bajo de la Alumbrera. Located in Argentina\u2019s Catamarca Province, this project produced copper for more than 20 years until 2018, when it was placed under care and maintenance.<\/p>\n

Rio Tinto, for its part, reported lower copper production, with approximately 624,000 tonnes in 2024. The Anglo-Australian company\u2019s copper operations are located in Chile, the United States, Mongolia, and Australia.<\/p>\n

Both companies are present in some of the world\u2019s most important mining districts. In Glencore\u2019s case: Collahuasi (Chile), in a joint venture with Anglo American; Antamina (Peru), in a joint venture with BHP.<\/p>\n

For Rio Tinto: Escondida (Chile), in a joint venture with BHP; Oyu Tolgoi (Mongolia); Northparkes (Australia).<\/p>\n

Lithium, Rio Tinto\u2019s Latest Major Bet<\/a><\/p>\n

Following the acquisition of Arcadium Lithium for approximately US$6.7 billion, Rio Tinto has become one of the leading players in the lithium market, surpassed only by Albemarle, Ganfeng, Tianqi, and SQM.<\/p>\n

Rio Tinto\u2019s Lithium business unit has a presence in the Argentine provinces of Catamarca, Jujuy and Salta through several projects: F\u00e9nix and Sal de Vida Hombre Muerto; Cauchari and Olaroz in the Olaroz salar; and Rinc\u00f3n, in the salar of the same name. The portfolio combines operating assets with others at advanced stages of development.<\/p>\n

Leaders in Other Metals<\/a><\/p>\n

Rio Tinto is the world\u2019s second-largest iron ore producer, with operations in Western Australia, trailing only Vale. The company has also consolidated its position as a top-tier producer of aluminum and diamonds\u2014ranking in the global Top 3 for both\u2014through operations in Australia and Canada.<\/p>\n

Glencore ranks among the world\u2019s top five nickel producers, with mines in Brazil, Canada, Indonesia, and New Caledonia. In zinc, it is the global leader, supported by operations across South America, Australia, and Kazakhstan.<\/p>\n

Glencore and Rio Tinto \u2013 RIGI Filings and Argentina\u2019s Outlook<\/a><\/p>\n

Recently, Glencore announced a reconfiguration of its business structure, creating a unit named Copper Argentina, clearly underscoring the strategic importance of Argentina\u2019s copper resources within the portfolio of one of the world\u2019s leading diversified mining companies.<\/p>\n

In addition to the restart of Bajo de la Alumbrera, two major projects rank among the world\u2019s Top 10 largest undeveloped copper deposits: Agua Rica and Pach\u00f3n. Their applications under Argentina\u2019s RIGI investment framework were submitted last August, with projected investments of US$4 billion and US$9.5 billion, respectively.<\/p>\n

Agua Rica is expected to have a mine life of 23 years, with average annual production of 204,000 tonnes. Located in Catamarca Province, the project stands to benefit from existing infrastructure\u2014processing facilities, rail transport, and more\u2014at nearby Bajo de la Alumbrera.<\/p>\n

Pach\u00f3n, located in Calingasta Department, San Juan Province\u2014home to several major copper projects\u2014envisions a mine life exceeding 40 years, with annual production of approximately 185,000 tonnes of copper.<\/p>\n

The scale and significance of Glencore\u2019s Copper Argentina unit are illustrated in a chart presented by the company last December, showing annual production projections from 2025 through 2045.<\/p>\n

\"Glencore<\/p>\n

Rio Tinto has also submitted its lithium projects under the RIGI framework. Rinc\u00f3n, with an investment of US$2.8 billion, has already received approval, while Sal de Vida, valued at US$635 million, remains under review.<\/p>\n

Although lithium is Rio Tinto\u2019s primary focus in Argentina, the company also has a presence in copper through its technology subsidiary Nuton, which holds an interest in the Los Azules project\u2014also located in Calingasta\u2014where a US$2.7 billion RIGI application has already been approved.<\/p>\n

Argentina and Copper: The Winning Card in a Potential Merger?<\/a><\/p>\n

Together with iron ore, copper would represent one of the two core business pillars of the combined entity. As one of the world\u2019s largest corporate groups by market capitalization, the merged company could become a leading global copper producer, potentially surpassing several of today\u2019s top players.<\/p>\n

In this context, it would control two major undeveloped copper mines\u2014Agua Rica and Pach\u00f3n\u2014along with a strategic presence in another advancing project, Los Azules.<\/p>\n

On a smaller but still highly significant scale, the new organization would also stand as a major global lithium player, with a firmly consolidated position.<\/p>\n

Rio Tinto has until February 5 to formalize an offer or withdraw from the potential combination. This year could witness one of the largest corporate mergers ever seen in the global mining sector\u2014one in which Argentina\u2019s copper and lithium assets would play a more than prominent role.<\/p>\n","protected":false},"excerpt":{"rendered":"Glencore has confirmed that it is engaged in preliminary discussions with Rio Tinto \u201cregarding a possible combination of…\n","protected":false},"author":2,"featured_media":83954,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[123],"tags":[1680,132,1679,133,1682,1681,1683],"class_list":["post-83953","post","type-post","status-publish","format-standard","has-post-thumbnail","category-glencore","tag-argentina","tag-glencore","tag-mineria","tag-mining","tag-mining-news","tag-noticias-mineras","tag-panorama-minero"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116749381590386218","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/83953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=83953"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/83953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/83954"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=83953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=83953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=83953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}