More consolidation is needed, he told a private conference hosted by Goldman Sachs at LME Week. As it happened, Jakob Stausholm, the boss of rival mining company Rio Tinto, was also speaking at the event. Around the same time, Glencore and Rio held tentative talks about combining part or all of their business to create a $160bn mining behemoth.

Rio Tinto (NYSE:RIO) and Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) reportedly discussed a potential merger for months at the top level of both companies, in what would be the mining industry's largest-ever deal.

Glencore approached Rio Tinto late last year about combining the two big copper producers but the discussions are no longer active, a person familiar with the matter said. The talks between Rio, the world's No.

Rio Tinto and Glencore held talks last year about combining part or all of their businesses, in an indication of how the push by mining companies to secure metals needed for the energy transition has focused executives on large-scale deals.

Rio Tinto and Glencore have held early-stage talks about combining their businesses, Bloomberg News reported on Thursday, citing people familiar with the matter. The potential merger between the two mining heavyweights,

A tie-up would have created a nearly £130billion behemoth that would have toppled BHP from its top spot as the world's biggest miner.

Rio Tinto and Glencore have discussed combining their businesses, according to people familiar with the matter. If successful, the tie-up would rank as the largest-ever mining deal and create a behemoth to rival longstanding leader BHP Group.

Rio Tinto Ltd (ASX:RIO) has seen its share price drop more than 1% on rumours that it’s in discussion with another high-powered miner Glencore about merging their respective businesses. The Australian Financial Review cited Bloomberg as the main originator of the news – in addition to others close to the issue – saying that ‘Rio and Glencore have