The mining industry is on edge after reports surfaced of potential merger discussions between Rio Tinto and Glencore, two of the sector’s most prominent players. Bloomberg News reported that the companies held preliminary talks regarding a tie-up,

Both Glencore and Rio own some of the best copper mines in the world. However, Rio — like BHP — still depends heavily on iron ore to drive its profits, at a time when China’s decades-long construction boom is drawing to an end and the iron ore market appears headed for an extended period of weakness.