Metals & mining industry M&A deals in Q1 2019 total $1.44bn in Australia

1 May 2019 (Last Updated May 1st, 2019 06:49)

Metals & mining industry M&A deals in Q1 2019 total $1.44bn in Australia

Total metals & mining industry M&A deals in Q1 2019 worth $1.44bn were announced in Australia, according to GlobalData’s deals database.

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The value marked a decrease of 39.7% over the previous quarter and a drop of 31.5% when compared with the last four-quarter average of $2.1bn.

Australia held a 6.5% share of the global metals & mining industry M&A deal value that totalled $22.18bn in Q1 2019.

In terms of deal activity, Australia recorded 50 deals during Q1 2019, marking an increase of 4% over the previous quarter and a drop of 10.7% over the last four-quarter average.

Australia metals & mining industry M&A deals in Q1 2019: Top deals

The top five metals & mining industry M&A deals accounted for 91.4% of the overall value during Q1 2019.

The combined value of the top five metals & mining industry M&A deals stood at $1.32bn, against the overall value of $1.44bn recorded for the quarter. The top announced metals & mining industry M&A deal tracked by GlobalData in Q1 2019 was Hancock Corporation’s $591m acquisition of Riversdale Resources.

In second place was the $575m asset transaction with Glencore by Aeris Resources and in third place was Xuchen International’s $78.45m acquisition of Nzuri Copper.

The $39m acquisition of Jindalby Metals by Foshan Steel Group and Royal Nickel’s asset transaction with Westgold Resources for $35.47m held fourth and fifth positions, respectively.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.