The mega-merger talks are heating up again. Rio Tinto and Glencore are back in discussions, and this time copper at record highs might make the difference. Soaring copper prices are reshaping the economics of the deal – suddenly the numbers look very different than they did before. The question isn't just whether they want to merge, but whether current market conditions finally make it viable. Copper hitting fresh peaks changes the valuation game entirely. Both companies are calculating hard numbers right now: production costs, market share, and whether consolidation actually pays. It's not just boardroom strategizing – the real driver is copper's bull run and what that means for mining profitability. The deal has failed before, but markets evolve. With energy costs factored in and commodity prices this strong, the fundamentals shift. Could this be the moment it actually happens? The broader takeaway: when raw material prices spike, M&A logic gets reconsidered. It's a reminder that mining doesn't move in isolation – it's deeply tied to global economic cycles and what traders are paying for physical assets.