The Latest Breaking News from Glencore

The FT estimates a total merger could result in a company worth in excess of $260bn (£193bn)

Its share price was up by more than 8% on Friday morning.

Deal would create world’s largest mining company and come almost a year after previous discussions failed

Economists say fall in US unemployment rate last month means Federal Reserve likely to leave borrowing costs unchanged at this month’s meeting

FTSE 100-listed Rio Tinto and Glencore are at the centre of MA speculation after they confirmed talks over a plan to create the world’s largest mining company.

One of Australia's biggest commodity companies is considering a $300 billion takeover pitch to form the world's largest mining group.

The FTSE 100 Index closed up 74.18 points at 9,940.71

IN DEPTH: Exclusive: As an escalating climate crisis and a difficult economic outlook put ever greater pressure on developing countries, new analysis shows how wealthy private investors in the Global North are profiting

Miners led the way in London on rising metals prices, with copper showing particular strength.

New firm Anglo Teck would be headquartered in Vancouver in a further blow to the UK mining sector

The global copper market is digesting the latest risks, as multi-dimensional challenges emerge in key jurisdictions. Codelco, the world’s largest copper producer, has lowered its 2025 output forecast to a range of 1.31 to 1.32 million metric tons, down from its previous estimate of 1.34 to 1.37 million tons.