The value of global metal and mining industry merger and acquisition (M&A) deals in the third quarter reached nearly $7-billion, data analytics and consulting company GlobalData has found.
This was a 48.2% increase compared with the second quarter but a 64.6% decrease compared with the last four-quarter average, which stood at $19.9-billion.
The Asia-Pacific region recorded the highest value of deals at $3.2-billion, while China topped the list in terms of deal value at country-level at $2.4-billion.
In terms of volume, North America was found to be the top region for metals and mining industry M&A deals globally, followed by Asia-Pacific and Europe.
The country with the most M&A deal activity in the third quarter was Canada, with 82 deals done, followed by Australia with 62 deals and the US with 38.
In the nine months ended September, global metal and mining M&A deals totalled $36.4-billion – a 55% decrease compared with the nine months ended September 30, 2018.
GlobalData said the top five metals and mining M&A deals of the third quarter were Liberty House Group’s $841-million asset transaction with ArcelorMittal; Baosteel Hong Kong Investment’s $658-million acquisition of Maanshan Iron & Steel; Beijing Haohua Energy Resource’s $442-million acquisition of Ningxia Hongdunzi Coal Industry; Barrick Gold’s $428-million acquisition of Acacia Mining; and Al Ezz Dekheila Steel’s $423-million acquisition of Al Ezz Flat Steel.