AKIPRESS.COM - A merger between Glencore plc and Rio Tinto Group would combine Glencore’s vast commodity-trading operations with Rio’s giant portfolio of copper projects, reports Bloomberg.
Glencore produced 1.5 million metric tons of the metal last year from mines in Congo, Zambia and South America. Rio Tinto mined 632,000 tons from Chile to Indonesia.
Rio is also seeking to expand the Oyu Tolgoi copper mine in Mongolia. Oyu Tolgoi, located about 80 kilometers north of the Chinese border, is forecast to contribute about a third of Mongolia’s economy when in full operation and will be the world’s third-biggest copper mine.