Chanticleer

$260b Rio Tinto, Glencore mega-deal would sideline Australia

Follow the money, and it’s hard to see how this mining merger would say much good about Australia’s future.

Jan 17, 2025 – 10.38am

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The last time Rio Tinto and Glencore were caught in merger talks, it was all about iron ore. Australia, and the Pilbara, were at the heart of it. A decade later, it can only be about copper: copper, copper and more copper. Big miners globally want more copper.

Glencore produces 1 million tonnes a year, Rio Tinto 800,000 tonnes. Combining the two would give a new owner 7 per cent of global supply.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.