PERTH (miningweekly.com) – Merger and acquisition (M&A) transactions in the metals and mining sector in the second quarter of this year reached $8.86-billion, GlobalData reported on Tuesday.
The value marked an increase of 29.1% over the previous quarter and a drop of 14.4% when compared with the last four-quarter average, which stood at $10.35-billion.
In terms of M&A activity, Canada topped the list at 151, with Australia following at 80, and the US with 42.
Comparing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $4.27-billion. At the country level, Canada topped the list in terms of deal value at $2.92-billion.
The top five metals and mining industry M&A transactions for the second quarter accounted for 59% of the overall value, and included Vedanta Resource’s $2.15-billion buy of Vedanta, the $1.78-billion merger of Alacer Gold and SSR Mining, and Tibet Zijin Industrial’s $548-million acquisition of Tibet Julong Copper Industry.
At the end of the second quarter, the total value of M&A in the metals and mining sector for 2020 reached $17.16-billion globally, marking a decrease of 39.6% year-on-year.