Deals

Rio Tinto Retreats as Glencore and Glasenberg Dig In

A Rio-Glencore merger would have created the world’s biggest mining company.

The Rio Tinto Group logo at Central Park tower, which houses the company's offices, in Perth, Australia, on Friday, Jan. 9, 2026. Rio is in talks to buy Glencore Plc to create the world’s biggest mining company with a combined market value of more than $200 billion, a little over a year after earlier talks between the two collapsed.Photographer: Matt Jelonek/Bloomberg

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By Aaron Kirchfeld, Thomas Biesheuvel, and Dinesh Nair

February 6, 2026 at 3:26 PM UTC

This article is for subscribers only.

Happy Friday and welcome to the Bloomberg Deals newsletter. Today, we’re going behind the scenes of the latest failed attempt to merge miners Rio Tinto and Glencore. Elsewhere, German dealmakers are off to a flying start in 2026.

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