In the global mining industry, there were 298 M&A deals announced in Q4 2023, worth a total value of $33.9bn, according to GlobalData’s Deals Database. The $14.9bn acquisition of United States Steel by Nippon Steel was the industry’s largest disclosed deal. GlobalData’s Mining Industry Mergers and Acquisitions Deals report for 2023 helps discover the latest insights on Mining Industry M&A transactions. The report uncovers the analyzes the disruptive themes behind the most notable deals, and helps anticipate shifts in the industry landscape. Buy the report here.

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In value terms, M&A activity increased by 142% in Q4 2023 compared with the previous quarter’s total of $14bn and rose by 28% as compared to Q4 2022. Related deal volume decreased by 11% in Q4 2023 versus the previous quarter and was 23% lower than in Q4 2022.

Notably, foreign direct investments (fdi)-related deals accounted for a 34% share of the global mining industry’s M&A activity in Q4 2023, up 11% over the previous quarter.

The top-ranked financial advisors supporting these M&A deals in Q4 2023 were Canaccord Genuity Group; Allenby Capital; Bank of Montreal with 15, 9, 9 deals respectively.

The top-ranked legal advisors supporting these M&A deals in Q4 2023 were McCarthy Tetrault; Cassels Brock & Blackwell; Fasken Martineau DuMoulin with 24, 22, 22 deals respectively.

For further understanding of GlobalData's Mining Industry Mergers and Acquisitions Deals by Top Themes in 2023 – Thematic Intelligence, buy the report here.

This content was updated on 8 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.