Canada’s metals & mining industry sees a drop of 15.4% in deal activity in October 2019

26 November 2019 (Last Updated November 26th, 2019 12:02)

Canada’s metals & mining industry sees a drop of 15.4% in deal activity in October 2019

Canada’s metals & mining industry saw a drop of 15.4% in overall deal activity during October 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 33 deals worth $777.43m were announced in October 2019, compared to the 12-month average of 39 deals.

M&A was the leading category in the month in terms of volume with 32 deals which accounted for 97% of all deals.

In second place was private equity with one deal, accounting for 3.03% of overall deal activity in the country’s metals & mining industry during the month.

In terms of value of deals, M&A was the leading deal category in Canada’s metals & mining industry with total deals worth $776m, followed by venture financing deals totalled $1.42m.

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

The top five metals & mining industry deals accounted for 99.5% of the overall value during October 2019.

The combined value of the top five metals & mining deals stood at $773.74m, against the overall value of $777.43m recorded for the month.

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

1) Impala Platinum Holdings’ $751.02m acquisition of North American Palladium

2) The $9.26m acquisition of Karst Investments by Osisko Metals

3) QuestCap’s $7.51m asset transaction with Troilus Gold

4) The $4.53m asset transaction with Rio Tinto Exploration Canada by Benton Resources

5) Alexco Resource, Osisko Gold Royalties, Sprott Asset Management and Victoria Gold’s private equity deal with Banyan Gold for $1.42m.

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.