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Canadian mining M&A picked up pace in fourth quarter

6th March 2020

By: Creamer Media Reporter

     

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Merger and acquisition (M&A) deals in the Canadian mining sector rose sharply in the final quarter of 2019, with deals worth $6.81-billion announced.

According to GlobalData’s deals database, the value marked an increase of 964% over the previous quarter and a rise of 70.4% when compared with the last four-quarter average of $4-billion.

The analytics and data company states that Canada held a 33.7% share of the global metals and mining industry M&A deal value, which totalled $20.22-billion in the fourth quarter.

In terms of deal activity, Canada recorded 80 deals during the quarter, marking a drop of 7% over the previous quarter and a drop of 19.2% over the last four-quarter average.

The combined value of the top five metals and mining deals stood at $6.34-billion, against the overall value of $6.81-billion recorded for the quarter.

The top deals included Kirkland Lake Gold’s $3.8-billion acquisition of Detour Gold, the $1.03-billion acquisition of Continental Gold by Gold Mountains (H.K.) International Mining, Impala Platinum’s $751.02-million acquisition of North American Palladium, the $475-million asset transaction with Newmont by Evolution Mining and Teranga Gold’s asset transaction with Barrick Gold for $286.79-million.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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