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.
Poland and the Czech Republic are in constant contact over the open-pit lignite mine near their border but need more time to reach an agreement, Polish climate minister Anna Moskwa said on Monday.
Turow, a 30 square kilometre area, is one of Poland’s largest lignite mines.
The complex, employing 5,000, is slated to run until 2044, conflicting with EU ambitions to cut emissions to net zero by mid-century.
“We will be back in the middle of this week with information for the public,” Moskwa was quoted as saying in a statement. She added that Poland was waiting for the Czechs’ written proposal regarding a deal.
On Friday Moskwa said both sides needed until Monday to conclude talks.
(By Anna Koper; Editing by Jon Boyle)
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