# Rio Tinto and Glencore in preliminary merger talks Rio Tinto and Glencore are in preliminary negotiations that could lead to a merger, potentially creating the largest mining company in the world with a market capitalization exceeding $200 billion. The deal may involve a partial or full acquisition of Glencore by Rio Tinto. - Type: Acquisition - Announced: 2026-01-09 - Where: São Paulo, Brazil - Value: $902.6M - Status: rumored - Products: copper, coal - Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md) ## Companies - [Votorantim S.A.](https://endata.com/companies/22419.md) - [Rio Tinto](https://endata.com/companies/4215.md) (acquirer) - [Rio Tinto](https://endata.com/companies/4215.md) (partner) - [Aluminum Corporation of China](https://endata.com/companies/20411.md) (acquirer) - [Votorantim S.A.](https://endata.com/companies/22419.md) (partner) - [Votorantim S.A.](https://endata.com/companies/22419.md) (target) - [Glencore](https://endata.com/companies/22952.md) (target) - [Chinalco](https://endata.com/companies/29047.md) (acquirer) - [Companhia Brasileira de Alumínio](https://endata.com/companies/32162.md) (target) - [Grupo Votorantim](https://endata.com/companies/89977.md) (partner) - [CBA](https://endata.com/companies/89986.md) (target) - [Brazilian Aluminum](https://endata.com/companies/90212.md) (target) ## Sources - [open.kg](https://open.kg/en/news/exclusive/60280-rio-tinto-i-glencore-obsuzhdajut-obedinenie-mozhet-pojavitsja-krupnejshaja-gornodobyvajuschaja-kompanija-v-mire-bloomberg.html), 2026-01-09: "Both companies have confirmed that they are discussing the possibility of a deal that may involve a partial or full acquisition of Glencore's stake by Rio Tinto." - [riotinto.com](https://www.riotinto.com/en/news/releases/2026/rio-tinto-strengthens-its-global-low-carbon-aluminium-footprint-through-joint-acquisition-with-chalco-of-votorantims-interest-in-cba), 2026-01-30: "Rio Tinto and Aluminum Corporation of China Limited (Chalco) have entered into a definitive agreement with Votorantim to acquire, through a joint venture to be owned 33% by Rio Tinto and 67% by Chalco, Votorantim’s 68.596% controlling shareholding in Companhia Brasileira de Alumínio (CBA)." - [marketscreener.com](https://www.marketscreener.com/news/chinalco-rio-tinto-to-buy-controlling-stake-in-companhia-brasileira-de-aluminio-ce7e5bdfde8aff22), 2026-01-30: "The deal represents a premium of 21% to Brasileira de Aluminio's 20-day weighted average trading price, Rio Tinto said." - [news.metal.com](https://news.metal.com/newscontent/103748233-chinalco-rio-tinto-to-jointly-buy-686-stake-in-brazils-cba), 2026-01-30: "The deal involves purchasing 446.6 million shares at R$10.50 each, representing a modest 1.4% premium over CBA's closing price on Thursday." - [bloomberglinea.com.br](https://www.bloomberglinea.com.br/negocios/votorantim-vende-controle-da-cba-para-chinalco-e-rio-tinto-por-r-47-bilhoes/), 2026-01-30: "A Votorantim acertou a venda do controle da CBA (Companhia Brasileira de Alumínio) para a Chinalco (Aluminum Corp. of China) e a Rio Tinto." - [valorinternational.globo.com](https://valorinternational.globo.com/business/news/2026/01/30/chinalco-rio-tinto-join-forces-to-buy-cba.ghtml), 2026-01-30: "Chinese state-owned aluminum producer Chinalco and Anglo-Australian miner Rio Tinto have formed a joint venture and on Tuesday (29) signed an agreement with Votorantim S.A. to acquire control of Companhia Brasileira de Alumínio (CBA) for R$4.69 billion." - [finance.sina.com.cn](https://finance.sina.com.cn/roll/2026-02-02/doc-inhkkquq8146425.shtml), 2026-02-02: "本次交易契合公司优化全球产业布局的发展方向，将结合公司在铝行业的技术、管理及全产业链运营优势与力拓的可持续发展、国际化经营经验，在巴西打造新的铝产业基地。" - [aluminummarketupdate.crugroup.com](https://www.aluminummarketupdate.crugroup.com/global-trade/rio-tinto-chalco-form-jv-to-purchase-vortorantims-interest-in-cba-in-brazil/), 2026-02-03: "Rio Tinto and Aluminum Corporation of China Limited (Chalco) have agreed to form a joint venture to acquire Votorantim’s 68.596% interest in Companhia Brasileira de Alumínio (CBA) in Brazil." - [clearygottlieb.com](https://www.clearygottlieb.com/news-and-insights/news-listing/votorantim-in-sale-of-cba-to-chalco-and-rio-tinto), 2026-02-04: "The transaction is aligned with VSA’s strategy of active portfolio management and value creation." - [news.futunn.com](https://news.futunn.com/en/post/68599398/chinalco-601600-plans-to-acquire-brazilian-aluminum-company-opening-up), 2026-02-08: "On January 30, Aluminum Corporation of China announced its plan to jointly acquire a 68.596% stake in Brazilian Aluminum with international mining giant Rio Tinto, investing 6.286 billion RMB." --- Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.