otal metals & mining industry M&A deals worth $2bn were announced in North America in Q3 2022, led by Agnico Eagle Mines’ $580m acquisition of 50% stake in Minas de San Nicolas, according to GlobalData’s deals database.
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The value marked a decrease of 80.8% over the previous quarter and a drop of 78.5% when compared with the last four-quarter average of $9.22bn.
North America held a 19.92% share of the global metals & mining industry M&A deal value that totalled $9.94bn in Q3 2022. With an 8.16% share and deals worth $811.11m, the US was the top country in North America’s M&A deal value across metals & mining industry.
In terms of deal activity, North America recorded 136 deals during Q3 2022, marking a decrease of 13.38% over the previous quarter and a drop of 18.32% over the last four-quarter average. Canada recorded 103 deals during the quarter.
North America metals & mining industry M&A deals in Q3 2022: Top deals
The top five metals & mining industry M&A deals accounted for 79.4% of the overall value during Q3 2022.
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The combined value of the top five M&A deals stood at $1.57bn, against the overall value of $2bn recorded for the quarter.
The top five metals & mining industry deals of Q3 2022 tracked by GlobalData were:
1) Agnico Eagle Mines’s $580m acquisition deal for 50% stake in Minas de San Nicolas 2) The $525m asset transaction of Rio Tinto by RG Royalties 3) AngloGold Ashanti’s $200m asset transaction deal with Coeur Mining 4) The $154.54m acquisition of Great Bear Royalties by International Royalty 5) Aris Mining’s $107.7m acquisition deal with Aris Gold