When Glencore proposed a combination with Rio Tinto Group a decade ago, the larger company turned it down after just a few days. News this week that the two spent several months in negotiations in the second half of last year shows how the sands have shifted,

Rio Tinto (NYSE:RIO) and Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) reportedly discussed a potential merger for months at the top level of both companies, in what would be the mining industry's largest-ever deal.

Glencore approached Rio Tinto late last year about combining the two big copper producers but the discussions are no longer active, a person familiar with the matter said. The talks between Rio, the world's No.

Both Glencore and Rio own some of the best copper mines in the world. However, Rio — like BHP — still depends heavily on iron ore to drive its profits, at a time when China’s decades-long construction boom is drawing to an end and the iron ore market appears headed for an extended period of weakness.

A tie-up would have created a nearly £130billion behemoth that would have toppled BHP from its top spot as the world's biggest miner.

Rio Tinto and Glencore have held early-stage talks about combining their businesses, Bloomberg News reported on Thursday, citing people familiar with the matter. The potential merger between the two mining heavyweights,

Rio Tinto and Glencore held talks last year about combining part or all of their businesses, in an indication of how the push by mining companies to secure metals needed for the energy transition has focused executives on large-scale deals.

Rio Tinto and Glencore have discussed combining their businesses, according to people familiar with the matter. If successful, the tie-up would rank as the largest-ever mining deal and create a behemoth to rival longstanding leader BHP Group.

Rio Tinto and Glencore, two of the world's largest mining companies, recently engaged in brief merger discussions. However, these talks have since ended without any agreement, according to a report by Reuters,

Rio Tinto Ltd (ASX:RIO) has seen its share price drop more than 1% on rumours that it’s in discussion with another high-powered miner Glencore about merging their respective businesses. The Australian Financial Review cited Bloomberg as the main originator of the news – in addition to others close to the issue – saying that ‘Rio and Glencore have