Total metals & mining industry deals worth $8.6bn were announced globally for October 2022, with Cosan’s $4bn acquisition deal for 4.9% stake in Vale being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 181.3% over the previous month of $3.05bn and a rise of 11.1% when compared with the last 12-month average of $7.72bn.

In terms of number of deals, the sector saw a drop of 30.51% with 82 deals in October 2022 when compared to the last 12-month average of 118 deals.

In value terms, South and Central America led the activity with deals worth $4.36bn in October 2022.

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Metals & Mining industry deals in October 2022: Top deals

The top five deals accounted for 88.9% of the overall value during October 2022.

The combined value of the top five deals stood at $7.63bn, against the overall value of $8.6bn recorded for the month.

The top five metals & mining industry deals of October 2022 tracked by GlobalData were:

1) Cosan’s $4bn acquisition deal for 4.9% stake in Vale

2) The $2.22bn acquisition of 60% stake in Nanjing Nangang Iron & Steel United by Jiangsu Shagang Group

3) Zijin Mining Group’s $817.83m acquisition deal for 84% stake in Anhui Jinsha Molybdenum

4) The $360m acquisition of 95% stake in Rosebel Gold Mines by Zijin Mining Group

5) Harmony Gold Mining’s $230m asset transaction deal with Copper Mountain Mining