Glencore hopes rising coal prices revive Rio Tinto deal

Glencore CEO Gary Nagle hopes rising coal prices will help revive merger talks with Rio Tinto. Shifting valuations could favor a deal after a six-month pause.

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Gary Nagle, the CEO of Glencore plc, is reportedly seeking to revive merger discussions with Rio Tinto, banking on a recent surge in coal prices to bring the mining giant back to the negotiating table. Earlier this year, the two companies were engaged in talks to create a $240 billion entity that would combine Glencore's marketing and copper assets with Rio Tinto's operational scale. Those discussions ended in February due to significant disagreements over valuation.

The Glencore corporate logo is seen at the company's headquarters in Baar, Switzerland. Photo: Arnd Wiegmann/Reuters.
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