Mega Merger in the Mining World: Rio Tinto and Glencore

Rio Tinto and Glencore are considering a merger that could create the largest iron ore mining company globally, valued at around $158 billion. Previously in 2014, Rio Tinto rejected a similar offer from Glencore. Both companies have not commented on the current talks.

The mining industry could witness a seismic shift as Rio Tinto and Glencore engage in early-stage merger talks. According to Bloomberg News, sources close to the situation suggest the move could result in the largest merger in the industry's history, boasting a market value of approximately $158 billion.

This valuation would propel the combined entity past current leader BHP, valued at $126 billion. Despite the potential implications, both Rio Tinto and Glencore have remained tight-lipped, choosing not to comment on the ongoing discussions.

This isn't the first instance of merger discussions between the two powerhouses. In 2014, Rio Tinto turned down a merger proposition from Glencore, which would have then positioned the merged company as the world's top miner.

(With inputs from agencies.)