The mining sector kicked off 2026 with major news: Rio Tinto and Glencore have reopened merger discussions to potentially form the world's largest mining company with a combined valuation exceeding $200 billion (ZeroHedge reporting, January 9, 2026). This development — centered on copper as the "prize" asset — has immediate implications for copper mining stocks, from large-cap re-ratings to increased M&A activity that could benefit juniors.
For experienced investors who've positioned in Canadian copper mining stocks through multiple cycles — those who dissect technical reports, network at conferences, and deploy meaningful allocations — this mining news underscores copper's strategic importance. But it also raises questions: Why are copper stocks going up? What makes the price of copper go up? And are copper stocks a good buy in this environment?
This isn't speculation. It's a practical analysis of the merger's context, copper market dynamics, and positioning strategies, incorporating insights on best copper mining stocks, best Canadian copper mining stocks, and best junior copper mining stocks.
Important disclaimer: This is educational commentary based on public market data and analyst reports as of January 9, 2026. It is not investment advice, a recommendation to buy, sell, or hold any security, or an endorsement of any company. All investments involve risk, including complete loss of capital. Prices and conditions change rapidly. Conduct your own thorough due diligence and consult qualified professionals.
The Merger Details: What We Know So Far
Rio Tinto and Glencore confirmed on January 9, 2026, that they are discussing various deal structures, including an all-share takeover covering part or all of Glencore’s business (ZeroHedge). Glencore shares jumped about 10% in London trading, while Rio slipped more than 2%, reflecting market views on premium and synergies.
Copper is the central focus: A merger would expand Rio's copper output and provide access to prized assets like Chile’s Collahuasi mine, reducing dependence on iron ore amid fading Chinese construction demand (ZeroHedge). Glencore's large coal business is a potential hurdle, but sources indicate Rio is open to retaining it initially and divesting later.
This follows a wave of consolidation: Anglo American's deal for Teck Resources and BHP's earlier interest (ZeroHedge). Under UK rules, Rio must decide by February 5, 2026, whether to proceed or step back for six months.
Expert reactions: Ben Cleary of Tribeca Investment Partners called it "the most logical deal in the sector," while John Ayoub of Wilson Asset Management emphasized Rio CEO Simon Trott's disciplined approach (ZeroHedge).
Why This Mining News Matters for Copper Stocks
A $200B entity would dominate copper supply — but create ripple effects:
Increased M&A Pressure: Majors seeking scale could target juniors, boosting copper mining companies stocks valuations.
Supply Discipline: Combined operations might optimize output, but short-term disruptions could tighten markets.
Investor Rotation: As copper's "prize" status highlights its strategic role, generalist funds may allocate more — lifting copper mining stock performance.
What makes the price of copper go up? In this case, merger-driven sentiment amid existing deficits (ICSG 2025 surplus of 178,000 tonnes, but 2026 deficit forecasts 150,000–330,000 tonnes).
Why are copper stocks going up? Broader commodity strength and M&A buzz — copper futures up 1.2% on January 9 to $5.29/lb.
Copper Market Outlook: Structural Bull Intact
Copper's 40%+ 2025 gain reflected fundamentals that persist:
Demand Growth: Electrification and AI: BloombergNEF December 2025 estimates AI-related power demand adding millions of tonnes by 2030, EVs/grids driving 50–70% growth by 2040.
Supply Constraints: Disruptions (Grasberg, Escondida) created tightness. Wood Mackenzie forecasts 304k tonnes shortfall for 2025–2026.
Analyst Forecasts: Goldman Sachs (December 2025): $15,000/tonne ($6.80/lb) by Q4 2026; J.P. Morgan similar.
BHP CEO Mike Henry (December 2025 CNBC): "Supply challenges aren’t going anywhere" into 2026+.
Implications for Junior Copper Mining Stocks
A Rio-Glencore deal could accelerate M&A, benefiting juniors in hot districts (Zambia, Chile, Canada).
Copper mining stocks list examples:
Best Copper Mining Stocks (Producers): Freeport-McMoRan, Southern Copper — record FCF.
Best Canadian Copper Mining Stocks: Teck Resources, Lundin Mining — diversified with growth.
Best Junior Copper Mining Stocks: Midnight Sun Mining (Zambian Copperbelt, up from <CA$0.20 to ~CA$1.40 on progress).
Copper stocks outperform when execution meets high prices — best performing copper stocks in 2025 like Imperial Metals (+333%) exemplify.
Copper stocks vs precious metals: Copper offers growth leverage, while gold/silver provide hedges — a merger highlights copper's strategic edge.
Are Copper Stocks a Good Buy?
In this setup — M&A wave, deficits, $13,000/mt prices — quality copper stocks merit consideration.
Should i invest in copper stocks? For growth-oriented investors, selective exposure to best copper stocks to invest in makes sense, especially Canadian juniors with catalysts.
Positioning Strategy
For copper as investment or investing in copper stocks:
10–20% portfolio allocation
Mix producers (stability) with juniors (upside)
Add on dips
The Bottom Line
This mining news — Rio-Glencore talks for a $200B giant — underscores copper's centrality, potentially accelerating M&A and boosting copper mining stock performance.
For experienced investors, it creates opportunity: position in quality juniors ahead of the wave.
The red metal's structural story strengthens.
Stay selective,
CanadianMiningReport.com
P.S. Merger developments unfold quickly. In The Wealthy Miner community, we track implications for specific stocks weekly. Join if you'd like ongoing analysis.
Author
Ben McGregor authors the Weekly Roundup at CanadianMiningReport.com, providing sharp analysis of the metals and mining sector. With a talent for spotting trends, Ben distills complex market shifts into clear, engaging insights on TSXV junior miners. His weekly updates cover gold, copper, uranium, and more, blending data-driven perspectives with a knack for identifying opportunities. A vital resource for investors, Ben’s work navigates the dynamic junior mining landscape with precision.