South African executive Gary Nagle is in talks to merge Swiss mining and commodity trading giant Glencore Plc with global mining leader Rio Tinto. The planned merger, if finalized, would create a mining company valued at more than 260 billion, one of the largest ever in the sector, reflecting a renewed focus on metals that power the green economy, signaling a period of strategic consolidation in mining that could reshape the sector for years.
The renewed talks, which gained strength on Friday, January 9, 2026, come just over a year after earlier merger discussions between the two companies fell apart. Both Glencore and Rio confirmed they are in preliminary discussions about a possible combination of some or all of their businesses, which could include an all-share merger. In private conversations, Nagle described a Glencore-Rio tie-up as the most obvious deal in the industry.
Merger blends coal, copper, iron assets
