Rio Tinto Slips After Report of Possible Glencore Merger

Dow Jones

01-17

By Connor Hart

American depositary receipts of Rio Tinto slid following a report that said the company has discussed a combination with Swiss miner Glencore.

Rio Tinto's ADRs fell 1.9%, to $59.29, in afternoon trading Thursday.

The early-stage talks between Rio Tinto and Glencore could result in the mining industry's largest-ever deal and reshape the global mining landscape, the Bloomberg report said, citing people familiar with the matter.

Spokespeople for Rio Tinto and Glencore separately said the companies don't comment on market rumors.

Glencore shares closed about flat, at 370.05 British pounds ($453.05), in London before the report.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 16, 2025 15:02 ET (20:02 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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