Rio Tinto and Glencore Push for More Time on Their $235 Billion Merger, US Strikes Re-Escalate Against Iran and Metals Fall, India Eyes Russian Coking Coal as a Strategic Supply Play, and Venezuela Sends Troops Into Its Gold Belt
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Today on The Mining Insider: Rio Tinto and Glencore are seeking to extend the preparation period for their proposed $235 billion merger — the deal that would create the world's largest mining company — as both sides continue to work through valuation. US forces launched new strikes against Iran in retaliation for the downing of a military helicopter even as ceasefire talks continued; gold fell 2.6% and base metals dropped across the board, with US inflation hitting 4.2% adding rate-hike pressure. Vale's CEO Gustavo Pimenta used the occasion to raise the company's 2026 iron ore price forecast to $112 per tonne, up from $102, citing war-driven margin expansion and 'super-constructive' global minerals demand. India's SAIL and NMDC are in talks with Russia to acquire coking coal assets following India's January 2026 designation of coking coal as a strategic mineral; India also seeks to boost Russian nickel imports for its EV supply chain. And Venezuela has deployed the army in a major operation near Las Claritas in the Orinoco Mining Arc to dislodge illegal miners from key gold deposits, as the government tries to attract foreign mining investment under a new April mining law.
Sources: AKM News (https://www.akm.ru/eng/news/rio-tinto-and-glencore-intend-to-extend-the-period-of-preparation-for-the-merger/), Mining.com metals retreat (https://www.mining.com/metals-retreat-amid-iran-conflict-and-lingering-rate-hike-concerns/), Mining.com Vale CEO (https://www.mining.com/web/vale-ceo-says-metals-demand-is-robust-despite-middle-east-war/), Reuters/ET Government (https://government.economictimes.indiatimes.com/amp/news/economy/india-explores-russian-coking-coal-assets-more-nickel-supplies-sources-say/131607415), Mining.com Venezuela (https://www.mining.com/web/venezuela-deploys-troops-against-illegal-miners-in-key-gold-belt/)
