Glencore - Attractive Mining/Metals At The Right Price (But Not Now)

2026-03-20 09:25:32 ET

When Glencore ( GLNCY ) and Rio Tinto ( RIO ) first started talking about merging their operations, I had long and thorough plans to initiate coverage on both tickers and cover the merger in detail. However, once I'd gotten some of my valuation models off the ground, the news came out that the companies abandoned merger talks about a month back. What it seems is that the merger talks couldn't get past the valuation stage and leadership (not surprising, given the history and the structure/fundamentals of both companies). This hasn't exactly been the first time this has been attempted, and Glencore PLC has made it clear that it's not the last time that it may (potentially) want this....

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