0459 GMT - CreditSights questions the strategic and cultural alignment of mining rivals Rio Tinto and Glencore after a Bloomberg report said the pair discussed a potential combination. "Is this real?" its analysts ask in a note. "Culturally, Rio Tinto is traditionally seen as conservative and focused on stability, whereas Glencore is known for its aggressive approach and constantly pushing the envelope in its operations." Rio Tinto also has a lack of interest in coal, a commodity Glencore last year said it wants to keep producing, citing a pendulum shift on ESG. If a deal materialized, it could ripple through the mining industry, creating the world's top mining behemoth and "potentially putting BHP/Anglo American back in play," the analysts say. Rio Tinto is down 0.9% in Sydney at A$118.48. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 16, 2025 23:59 ET (04:59 GMT)
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