Glencore Consolidates $22 Billion Coal and Ferroalloy Assets Under Australian Unit Amid Potential Rio Tinto Merger
Glencore has consolidated its global coal and ferroalloy assets under a single company registered in Australia. The mining and trading giant is managing all its coal assets through this Australian unit. The restructuring involves shifting approximately $22 billion in assets to the Australian subsidiary. Industry observers suggest this move could be a strategic step in preparation for a potential mega merger with Rio Tinto.
Sources
Bloomberg
Mining and trading house Glencore consolidated its global portfolio of coal and ferroalloy assets under one company registered in Australia https://t.co/m9d2AD0EZp
Paola Rojas 🐝 BREAKING: Glencore $GLEN is shifting $22 billion in assets to its Australian subsidiary — and it could all be preparation for a mega merger with $RIO per @mining
- Paola Rojas 🐝
BREAKING: Glencore $GLEN is shifting $22 billion in assets to its Australian subsidiary — and it could all be preparation for a mega merger with $RIO