Rio Tinto's suspension with Glennon regarding the acquisition expires on Tuesday, but people familiar with the matter said that since CEO Simon Trott is currently focusing on cutting costs and selling assets, no new cooperation negotiations are expected in the short term. A year ago, after taking over as CEO of the world's second-largest listed mining company, Trott launched a simplified strategy aimed at splitting Rio Tinto its three core businesses and focusing on its most profitable assets. But just a few months later, he began estimating the viability of a massive $200 billion merger deal, which aims to combine Glencore's marketing and copper assets with Rio Tinto's operational expertise to maximize the potential of its copper business. Ultimately, Trott failed to find a reasonable basis for value. The mining company withdrew from negotiations on February 5. According to British takeover rules, this move triggered a six-month cease-fire period, which expires this Tuesday. According to three people familiar with the matter, Trott has assured Australian investors that Rio Tinto has no reason to restart negotiations with Glencore.

Rio Tinto's suspension with Glennon regarding the acquisition expires on Tuesday, but people familiar with the matter said that since CEO Simon Trott is currently focusing on cutting costs and selling assets, no new cooperation negotiations are expected in the short term. A year ago, after taking over as CEO of the world's second-largest listed mining company, Trott launched a simplified strategy aimed at splitting Rio Tinto its three core businesses and focusing on its most profitable assets. But just a few months later, he began estimating the viability of a massive $200 billion merger deal, which aims to combine Glencore's marketing and copper assets with Rio Tinto's operational expertise to maximize the potential of its copper business. Ultimately, Trott failed to find a reasonable basis for value. The mining company withdrew from negotiations on February 5. According to British takeover rules, this move triggered a six-month cease-fire period, which expires this Tuesday. According to three people familiar with the matter, Trott has assured Australian investors that Rio Tinto has no reason to restart negotiations with Glencore.