Mining M&A deals hit $8.86 billion in Q2, GlobalData finds

The total value of mining sector mergers and acquisitions (M&A) deals in the second quarter of 2020 increased by 29.1% on the previous quarter to US$8.86 billion, according to a recent GlobalData report.

However, this figure for the COVID-19-impacted quarter does represent a 14.4% decline when compared with the last four-quarter average, which stood at $10.35 billion.

The top five metals and mining M&A deals accounted for 59.2% of the overall value during Q2 2020, with a combined value of $5.24 billion. The largest single deal was Vedanta Resources’ $2.15 billion acquisition of Vedanta Ltd.

The $1.78 billion merger of Alacer Gold and SSR Mining was the only other deal to exceed the one billion mark and was followed by Tibet Zijin Industrial’s $548 million acquisition of Tibet Julong Copper Industry.

Asia-Pacific held the top regional position around the world with total reported deals in the period worth $4.27 billion, while Canada topped the list at country level with $2.92 billion worth of M&A deals announced.

Canada also topped the list in terms of volumes with 151 deals signed in the country, followed by Australia with 80 and the US, where 42 deals were struck.