Mining Giants Reap Billions Amid Copper Supercycle
The world's largest mining companies, Rio Tinto and Glencore, have posted massive profits in the first half of 2026 due to a surge in global commodity prices.
Rio Tinto saw its net profit soar by 43% year-over-year to $6.7 billion (KES 924.6 billion), driven mainly by copper demand and Middle East market volatility.
Glencore's trading division, on the other hand, generated nearly $3.3 billion in the first six months of the year, capitalizing on the chaos injected into markets by ongoing conflict in the Middle East.
The companies' fortunes are closely tied to the global demand for copper and other metals, particularly with the rapid growth of artificial intelligence data centers and electric vehicle manufacturing.
Rio Tinto's productivity drive and Glencore's ability to exploit price arbitrage have contributed significantly to their success. The latter's unique business model allows it to profit from global instability.