The US metals and mining industry saw a rise of 23.3% in overall deal activity during the third quarter, when compared with the last four-quarter average, according to GlobalData’s deals database.
A total of 53 deals worth $1.6-billion was announced in the quarter, compared with the last four-quarter average of 43 deals.
The leading category was mergers and acquisitions (M&A), with 51 deals accounting for 96.2% of all deals.
In second place was private equity with two deals accounting 3.8% of overall deal activity in the country’s metals and mining industry during the quarter.
In terms of value of deals, M&A was the leading deal category, with total deals worth $1.59-billion, while private equity deals totalled $5.09-million.
According to GlobalData, the top five metals and mining deals, which accounted for 97.9% of the overall value, were the $1.4-billion merger of ArcelorMittal USA and Cleveland-Cliffs; the $90-million asset transaction with Newmont by Maverix Metals; Premier Gold Mines USA and Premier Gold Mines’ $50-million acquisition of Osgood Mining; the $16.8-million asset transaction with Barrick Gold by Bullfrog Gold and Altius Minerals’ asset transaction with Liberty Metals and Mining Holdings for $8.38-million.