Rio Tinto's potential acquisition bid for Glencore could be fundamentally reshaped by copper holdings, according to recent RBC research. The strategist analysis suggests copper assets are now the core driver behind any possible merger negotiations in the mining sector. With copper's critical role in energy transition infrastructure and industrial demand, control over major copper reserves becomes a decisive factor. RBC's take highlights how commodity fundamentals are reshaping M&A strategy across the mining landscape—copper supply chains are increasingly central to both traditional and emerging market plays.