Bloomberg Daybreak: Asia Edition Rio Tinto and Glencore Said to Discuss Merger, The State of Crypto Regulation
Jan 17, 2025
Paul Allen, Bloomberg Australia correspondent, shares insights on the potential merger between mining giants Rio Tinto and Glencore, discussing its implications for Australia’s economy and impacts on key markets like iron ore and copper. Catherine Dowling, Chief Compliance Officer at Bitwise Asset Management, shines a light on the evolving crypto regulatory landscape in Asia and the U.S., emphasizing the need for clear regulations and global collaboration in the wake of Donald Trump's inauguration.
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Potential Merger of Mining Giants
- Rio Tinto and Glencore discussed a merger, potentially creating a mining giant.
- This would surpass BHP Group, the current industry leader, and be the largest mining deal ever.
Market Reaction and Analyst Views
- Glencore's ADRs rose 4% while Rio Tinto's fell 2.6% upon news of the potential merger.
- Analysts suggest the deal favors Glencore more due to Rio Tinto's stronger production and reliance on iron ore.
Copper Synergy
- The merger could create a major copper producer, controlling 7% of the global supply.
- This synergy is attractive as the world shifts towards decarbonization and copper demand rises.