Post by Shore Africa

Glencore CEO Gary Nagle is signaling a possible revival of merger talks with Rio Tinto following a sharp increase in global coal prices, according to three investors who met company leaders in Australia this week. Earlier this year, the two miners explored a $240 billion tie-up, which would have combined Glencore’s marketing and copper operations with Rio Tinto’s operational strength to meet rising global demand for copper. Talks ended in February after the companies failed to agree on valuation. Under UK rules, Rio Tinto cannot restart negotiations for six months. “This is definitely not going away, unfortunately,” one investor said, speaking on condition of anonymity. “But I don’t see a merger making sense right now.” Rio Tinto CEO Simon Trott told reporters in February that the companies could not justify a shared value, effectively ending the first round of talks. 📌Tap the comment below to nread the full story.