Australian government not concerned about potential Rio-Glencore merger
Australian government not concerned about potential Rio-Glencore merger
Australian Resources Minister Madeleine King was asked this week about any concerns she might have about a potential merger between Rio Tinto (ASX/LSE: RIO) and Glencore (LSE: GLEN).
“It will be a matter for those companies. They’ll go through their proper processes, and I respect the fact they keep the government informed on that,” she said.
Despite concerns the deal may take Rio’s focus away from Australia, King said the company’s world-class Pilbara iron ore business would ensure it remained part of Western Australia. “I always advocate for Rio Tinto to set up their headquarters in Perth, given the CEO is from Wickepin, but that will be a matter for the companies,” she said. “Rio Tinto derives a lot of its revenue from the Pilbara. But Rio Tinto is a global company, and you can see its influence in the global resources industry is really important.”
Kristie Batten
Kristie is an award-winning journalist with over 17 years of experience covering the mining industry. She is a regular contributor to a number of leading global mining publications and is a member of the steering committee of the Melbourne Mining Club.
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