Rio Tinto and Glencore have been engaging in preliminary discussions about a possible combination of some or all of their businesses.
This could include an all-share merger between Rio Tinto and Glencore.
The parties’ current expectation is that any merger transaction would be effected through the acquisition of Glencore by Rio Tinto via a court-sanctioned arrangement.
Rio Tinto has until 5 February 2026 to either announce a firm intention or to make an offer for Glencore.
A further announcement is expected to be made.
