Rio Tinto and Glencore spoke for months about deal that was once taboo
The news of Glencore and Rio’s discussions “has turned up the temperature on an already simmering M&A environment,” RBC Capital Markets analyst says.
Responding to rising metals prices and more stable markets, most mining companies increased exploration budgets in 2010. The result was a 45% increase in estimated worldwide nonferrous metals exploration spending over 2009.
