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Viewsroom

Miners are excavating long-sought mega-deals

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 22 January 2026

⏱️ 21 minutes

🧾️ Download transcript

Summary

Diverging fates for copper and coal open opportunities for industry-reshuffling M&A, led by Glencore and Rio Tinto’s mulled $215 bln tie-up. In this week’s Viewsroom, Breakingviews columnists debate whether it will happen, or if egos and fear of past failure will reign. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt-out of targeted advertising.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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Visit Slack.com forward slash meet Slackbot to learn more.

0:30.6

The views expressed on this podcast are those of the participants, not of Rogers News.

0:38.8

M&A is back in vogue in 2026.

0:43.3

Earlier this month, $143 billion Australian miner Rio Tinto

0:47.8

said it is in early talks to buy Swiss rival Glencore.

0:52.4

This deal would create a mining behemoth, as the combined company's market worth could top

0:58.5

$200 billion.

1:01.2

The big question is will this be a case of third time lucky for this pair who have tried

1:05.6

repeatedly to combine, but faced many obstacles?

1:09.7

Can they agree on previous sticking points? What does it mean

1:12.8

for precious metals more generally? And what will their rivals do to make sure they're not left behind?

1:19.2

All of this and more is in this week's views room. It's Amy. And it's Jonathan. And this is the

1:26.8

Views Room, the weekly podcast that takes you into the biggest stories in business and finance.

1:31.2

So, Amy, as you said, we've definitely looked at big mining M&A before, right?

1:34.6

And every time it seems like someone is just close to striking that rich deposit of M&A goodness right below the surface,

1:41.9

the whole thing falls apart, everybody calls it off, and they all down tools and go home. We've seen this, as you said, with this pair before. We've seen it with, you know, kind of other pairings in the industry that have been raised and then kind of cast aside. However, we're in 2026 now. It seems like now is the time that something might actually happen. And there are some

2:02.1

important new ingredients in the market that are pushing that, right? Yes, that's very true. And I think

...

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