Glencore and Rio Tinto back away from mine merger - The Free Press

NewsRegional NewsElectionVideoNews TipsBusinessCommunityLifeTravelEntertainmentContestsPuzzlesHawaii Trip for Two ContestSportsOpinionLettersSubmit Letter to the EditorObituariesIn MemoryPlace An ObituaryPublic NoticesClassifiedsAll ClassifiedsBook A Print AdJobsLocal WorkJoin Our TeameEditionSpecial Sections HomeServices About UsContact UsSubmission FormsNewsletter Sign-UpseEdition Special SectionsNews Regional NewsElectionVideoNews TipsBusinessCommunityLife TravelWest Coast TravellerToday’s HomeEntertainment ContestsPuzzlesHawaii Trip for Two ContestSportsOpinion LettersSubmit Letter to the EditorObituaries In MemoryPlace An ObituaryPublic NoticesClassifieds All ClassifiedsBook A Print AdJobs Local WorkJoin Our Team Glencore and Rio Tinto back away from mine merger Published 2:13 pm Tuesday, February 10, 2026 By Gillian Francis Elk Valley Resource’s “Greenhills” coal mine, beside the Flathead Valley. Elk Valley Resources is owned by global company Glencore (Garth Lenz Photo) British-Australian mining business Rio Tinto Ltd. has stepped back from talks over a merger with Glencore, that would have created the world’s largest mining company. Rio Tinto made a potential offer to Glencore to assume the roles of chairman and chief executive officer at the company, but the deal fell through. Glencore is a global company, but owns Elk Valley Resources in Eastern B.C. The merger would have created the world’s largest mining company valued at over $200 billion. “We concluded that the proposed acquisition on these terms is not in the best interests of Glencore shareholders. It does not reflect our view on long term, through the cycle relative value, including not adequately valuing our copper business, and its leading growth pipeline and apportioning material synergy value potential,” Glencore remarked in a news release. Rio Tinto recently began entertaining thoughts of a merger in December after priorities were outlined, but the two companies jointly announced the deal would not go through in February. Founded in 1974, Glencore operation’s spans more than 30 countries worldwide and employs 150,000 workers and contractors. Rio Tinto has a similar reach across 35 countries, employing more than 60,000 employees and operations in iron ore, copper and aluminium. You Might Like News Province issues accelerated permit to expand Similkameen Valley’s Copper Mountain Mine News Feds sued as Wildsight calls for protection of Columbia Mountain caribou range News Okanagan Military Tattoo forges on to Vancouver News Okanagan’s future leaders in trades, tech compete in regional skills competition Sections Services Our Company © 2026 The Free Press. Privacy Policy Terms of Service