A Mining Mega-Deal in the Making and Why the Congo Matters

Market reports indicate that Rio Tinto and Glencore are in preliminary talks over a possible acquisition/merger that could create the world’s largest mining company by market value. Early estimates place the combined enterprise valuation at roughly $207 billion, positioning the merged entity above current industry leader BHP Group.

This potential deal, likely structured as an all-share buyout in which Rio Tinto would acquire Glencore’s shares, remains at an early stage and is not guaranteed to conclude. Under UK takeover rules, Rio Tinto has a deadline in early February 2026 to either make a formal offer or formally withdraw.

For the Democratic Republic of Congo, this is a development worth watching closely.

Glencore’s Strategic Footprint in the DRC

Glencore operates major copper and cobalt assets in the DRC, including Kamoto Copper Company and Mutanda Mining, which are central to global supply chains for electric vehicles, renewable energy infrastructure, and high-technology applications.

These assets make Glencore one of the single most influential foreign mining investors in the country’s copper-cobalt belt. Independent analyst estimates have valued Glencore’s core Congolese copper-cobalt assets, primarily Mutanda Mining and its ~75% stake in Kamoto Copper Company, at approximately $6.8 billion. These assets sit at the center of global battery-metal supply chains, underscoring the strategic weight the DRC carries in any broader consolidation scenario.

Rio Tinto’s Emerging Interest in the DRC

Although Rio Tinto does not currently run large-scale copper or cobalt mines in the DRC, the company has expressed strategic interest in critical minerals including discussions around lithium and other battery metals as part of its portfolio expansion into future-facing commodities.

Why This Matters

A successful consolidation of Rio Tinto and Glencore would not only reshape the global mining hierarchy but could also affect how DRC resources are developed, financed, and integrated into global critical minerals supply chains.

As always, the real opportunity lies not just in headline valuations, but in ensuring transparent, responsible investment, and long-term value creation for resource-rich countries.

Congo Investment Group | Insights on global mining capital flows and emerging markets