M&A deals reached US$8.8B in Q2: GlobalData

Geologists scoping exploration areas at SSR Mining's Marigold property. Credit: SSR Mining.

A total of US$8.86 billion worth of M&A deals were struck in the metals and mining industry globally during the second quarter of 2020, according to the latest report from GlobalData.

This represents an increase of 29.1% over the previous quarter and a decline of 14.4% when compared with the average over the last four quarters, which stood at US$10.35 billion.

Comparing deal values across different parts of the world, Asia-Pacific held the top position with total reported deals in the period worth US$4.27 billion. At the country level, Canada topped the list with US$2.92 billion worth of M&A deals announced.

In terms of volumes, North America emerged as the top region for M&A deals in the metals and mining industry, followed by Asia-Pacific and then Europe. The top country in terms of M&A deals activity was Canada with 151 deals, followed by Australia with 80 and the United States with 42.

As of the end of the second quarter, M&A deals totalling US$17.16 billion in value were announced globally, marking a decrease of 39.6% year-on-year.

The top five metals and mining M&A deals accounted for 59.2% of the overall value during the second quarter. The combined value of these deals stood at US$5.24 billion, against the overall value of US$8.86 billion recorded for the period.

The top five metals and mining industry deals tracked by GlobalData were: Vedanta Resources’ US$2.15 billion acquisition of Vedanta Ltd.; the merger of Alacer Gold and SSR Mining for US$1.78 billion; Tibet Zijin Industrial’s US$548 million acquisition of Tibet Julong Copper Industry; the US$460 million asset transaction with Blackstone Tactical Opportunities Fund, Lundin Gold and Orion Resource Partners (USA) by Newcrest Mining; andTronox’s asset transaction with Eramet for US$300 million.

— This Fast News item first appeared in MINING.com. The Northern Miner and MINING.com are part of Glacier Resource Innovation Group.



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