"This possible deal was confirmed by Rio Tinto recently, with a statement confirming that it was engaged in discussions with Glencore with a view to combining "some or all of their businesses". The wide nature of this statement has led to intense speculation about what it could mean for the global markets, particularly copper. These same companies were locked in talks a year ago, but it ended with no agreement being reached."
"This mega-deal would be even more interesting if we take into account the current importance of copper mining, which is classed by some sources as the world's most vital metal right now. Copper is now increasingly important due to the fact that it's needed for the construction of data centres, which are springing up across the planet to handle the growing use of artificial intelligence. It's also needed for the fast-growing renewable energy industry."
Rio Tinto and Glencore are engaged in talks that could combine some or all of their businesses, with the most likely outcome appearing to be Rio Tinto acquiring Glencore shares via a Court-sanctioned scheme of arrangement. The companies previously held talks a year ago that ended without agreement. Copper demand is rising because of data centre construction to support artificial intelligence and expanding renewable energy infrastructure. London matters because the London Metal Exchange remains the largest industrial metals market and sets global benchmark prices for copper futures, maintaining an open-outcry trading floor.
Read at London Business News | Londonlovesbusiness.com
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