Mining giants Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) and Glencore PLC (LSE:GLEN) reportedly engaged in preliminary discussions about a potential merger, Bloomberg reported on Thursday, citing sources familiar with the matter.
The talks, which a Reuters-cited source said were no longer active, would have paved the way for the mining industry’s largest-ever deal, reshaping the global landscape. Both companies rank among the world's leading iron ore miners and have extensive portfolios spanning various commodities.
Is the natural sector on the cusp of shrinking from four majors to just two super-majors?
It's a distinct possibility with merger mania now sweeping through the industry.
Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) is to raise up to £3.5 million through a placing finally to get its Zulu lithium and tantalum project in Zimbabwe up and running.
If fully subscribed, Premier African added that the money would settle certain immediately due creditor payments and essential staff payments ahead of operations recommencing.
The price of gold hit a month high on Thursday after abruptly rebounding from a sell-off following soft US inflation figures earlier in the week.
Thursday saw the spot prices climb as high as US$2,711 an ounce to hit levels last seen in mid-December.
Antofagasta PLC (LSE:ANTO) racked up a 3.9% gain on Thursday after unveiling stronger production figures for its latest quarter.
Some 200.3 kilotons of copper were produced in the fourth quarter, up 11.9% on the third and taking the figure up 0.5% over the course of 2024.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said production steadily improved in its latest quarter as Gedabek in Azerbaijan, with the gold and copper mine now back at full production.
Fourth quarter 2024 output was 8,450oz gold equivalent, up from 3,080oz in the previous three months.
Great Southern Copper PLC (LSE:GSCU) said drill results from its first hole at the historical Mostaza mine on the Cerro Negro project in northern Chile had intersected mineralisation.
The diamond hole was drilled to a depth of 103.5 metres depth and intersected 20 metres of intensely altered and mineralised rock between 27 metres and 47 metres depth, confirming copper/gold mineralisation continuity below the historical open pit.
KEFI Gold and Copper PLC's (AIM:KEFI, OTC:KFFLF) joint venture in Saudi Arabia, GMCO, has been awarded the Umm Hijlan exploration licence located directly south of its Hawiah prospect.
GMCO has long identified this EL as a key target, KEFI added, given its proven extension of the southern strike continuation of the main Hawiah volcanic massive sulphide or VMS system.
Copper was a strong performer for Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) during the December quarter with mined copper production increasing 21% quarter-on-quarter to 202,000 tonnes, comfortably ahead of the consensus estimate of 182,000 tonnes.
This saw copper production of 697,000 tonnes across the group for the 12 months, a 13% increase year-on-year.
JP Morgan has highlighted undervalued opportunities in European mining stocks, particularly for companies exposed to high-demand commodities such as copper, aluminium, and gold.
As market uncertainty around US trade policy persists, the bank notes that oversold miners, including Lundin Mining and Norsk Hydro, could offer significant upside in 2025, supported by anticipated fiscal stimulus in China.
RBC Capital Markets has downgraded Anglo American PLC (LSE:AAL) and Antofagasta PLC (LSE:ANTO), highlighting challenges within the diversified mining sector.
Anglo American’s rating was reduced to 'underperform' from 'sector perform', with a lower price target of 2,200p, down from 2,400p.
GreenRoc Strategic Materials PLC (AIM:GROC) has taken a step closer to advancing its Amitsoq graphite project in Greenland with a significant show of interest from the Export and Investment Fund of Denmark (EIFO).
The fund has issued a non-binding Letter of Interest (LoI), indicating potential financial support for the project.
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) said it has submitted its main application for a Special Lithium Operation Contract (CEOL) for its flagship asset, the Laguna Verde project in Chile.
Laguna Verde is one of six saline systems that the Government of Chile has prioritised for development by the private sector.
Caledonia Mining Corporation PLC's (AIM:CMCL, NYSE-A:CMCL) capital spending plans are aimed at underpinning the life of the Blanket Mine in Zimbabwe through 2040, broker Panmure Liberum suggested today.
The gold miner detailed plans for US$41.8 million spending this year with a fourth-quarter trading update.
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) has announced the successful production of a high-purity lithium carbonate sample, achieving a purity of 99.78%.
It comes as part of the company’s efforts to advance its sustainable lithium projects in Chile.
Oriole Resources PLC (AIM:ORR) said it continues to hit encouraging grades from its ongoing phase 5 drill programme at the Bibemi project in Cameroon.
Recent intersections at Bibemi included 5.30 metres at 1.68 grammes per tonne gold and 1.20m at 13.60g/t from the BZ1-NE and BZ1-SW targets.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has reported a consistent performance from the Blanket gold mine in Zimbabwe in its most recent three months.
Production in the three months to end December 2024, its fourth quarter, was 19,841 ounces after a record year for milling activity.
Gold producers should be doing well with the price of the precious metal within touching distance of its all-time high.
Thor Explorations has had some bumps in the road in the past twelve months, but a share price nudging towards its high for the year suggests the Nigerian-based gold miner is back on track and taking full advantage.
Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) kept its production guidance for the 2025 financial year unchanged despite the tough start to the year, notes broker Panmure Liberum.
Guidance remains 140-160,000oz 6E PGMs and 1.65-1.80Mt of chrome concentrates, noted the broker.
Technology Minerals PLC (LSE:TM1) subsidiary, Recyclus Group Ltd, has entered into a contract with a global automotive company to recycle lithium-ion (Li-ion) battery packs.
The batteries will be processed at Recyclus’ Wolverhampton recycling facility, the company said in a statement.
Gem Resources PLC (LSE:GEMR) said operations have resumed at its Gravelotte emerald mine in South Africa following the seasonal annual leave shutdown.
Processing is up and running already with mining to recommence shortly at the Cobra open pit, said the statement.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) said it has moved into a net cash position after what it said was another strong production quarter.
Some 24,662 ounces of gold was poured from the Segilola gold mine in Nigeria during the fourth quarter of 2024. bringing the total for the year to 85,057oz.
Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) has reported a 'tough' start to its latest financial year with production of both chrome and platinum affected by the drilling equipment available.
Platinum metals group (PGM) output in the three months to December 2025 was 29,900 ounces (37,100oz), said the South Africa-based miner, while chrome production dropped to 374,400 tonnes (426,800t).