Canada’s metals & mining industry sees a drop of 35% in deal activity in August 2019

23 September 2019 (Last Updated September 23rd, 2019 09:51)

Canada’s metals & mining industry sees a drop of 35% in deal activity in August 2019

Canada’s metals & mining industry saw a drop of 35% in overall deal activity during August 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 26 deals worth $173.57m were announced in August 2019, compared to the 12-month average of 40 deals.

M&A occupied 100% of all deals in the month in terms of volume with 26 deals and value worth $173.57m in Canada’s metals & mining industry.

Canada metals & mining industry deals in August 2019: Top deals

The top five metals & mining industry deals accounted for 86.2% of the overall value during August 2019.

The combined value of the top five metals & mining deals stood at $149.66m, against the overall value of $173.57m recorded for the month.

The top five metals & mining industry deals of August 2019 tracked by GlobalData were:

1) Nexa Resources’ $69.3m acquisition of Karmin Exploration

2) The $40m asset transaction with TMAC Resources by Maverix Metals

3) Avesoro Jersey’s $26.82m acquisition of Avesoro Resources

4) The $9m asset transaction with Wheaton Precious Metals by Chesapeake Gold

5) Benton Resources’ asset transaction with Rio Tinto Exploration Canada for $4.54m.

Verdict deals analysis methodology

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.