Asia-Pacific’s metals & mining industry saw a drop of 28.95% in deal activity during October 2022, when compared with the last 12-month average, led by Jiangsu Shagang Group’s $2.22bn acquisition of 60% stake in Nanjing Nangang Iron & Steel United, according to GlobalData’s deals database.
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A total of 27 metals & mining industry deals worth $3.7bn were announced for the region in October 2022, against the 12-month average of 38 deals.
Of all the deal types, M&A saw most activity in October 2022 with 25 transactions, representing a 92.6% share for the region.
In second place was private equity with two deals capturing a 7.4% share of the overall deal activity for the month.
In terms of value of deals, M&A was the leading category in Asia-Pacific’s metals & mining industry with $3.69bn, followed by private equity deals totalled $50.92m.
Asia-Pacific metals & mining industry deals in October 2022: Top deals
The top five metals & mining deals accounted for 94.9% of the overall value during October 2022.
The combined value of the top five metals & mining deals stood at $3.55bn, against the overall value of $3.7bn recorded for the month.
The top five metals & mining industry deals of October 2022 tracked by GlobalData were:
1) Jiangsu Shagang Group’s $2.22bn acquisition deal for 60% stake in Nanjing Nangang Iron & Steel United
2) The $817.83m acquisition of 84% stake in Anhui Jinsha Molybdenum by Zijin Mining Group
3) Harmony Gold Mining’s $230m asset transaction deal with Copper Mountain Mining
4) The $166m acquisition of 50% stake in Colluli Mining Share by Sichuan Road and Bridge (Group)
5) Zhaojin Mining Industry’s $114.2m acquisition deal for 6.1% stake in Shandong Ruiyin Mining Industry