Rio chief 'not interested' in Glencore

Glencore shares have dropped more than 60 per cent this year but Rio Tinto chief executive Sam Walsh is reportedly still not considering a bid.

Rio Tinto chief executive Sam Walsh is reportedly uninterested in bidding for troubled Swiss miner Glencore.

Mr Walsh says Glencore operates in different geographic areas to Rio and that "it is a different culture at Glencore," according to The Australian newspaper.

Glencore said this week it will try to sell its copper mines in Australia and Chile as it tries to tackle its $US29 billion ($A40 billion) debt.

Shares in the firm have dropped more than 60 per cent this year amid investor fears that sinking commodity prices will affect its ability to meet outstanding debt obligations.


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Source: AAP


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