Total metals & mining industry M&A deals worth $562.8m were announced in the Canada in Q3 2022, led by International Royalty’ $154.54m acquisition of Great Bear Royalties, according to GlobalData’s deals database.

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The value marked a decrease of 93.9% over the previous quarter and a drop of 93.1% when compared with the last four-quarter average of $8.14bn.

Canada held a 5.66% share of the global metals & mining industry M&A deal value that totalled $9.94bn in Q3 2022.

In terms of deal activity, the Canada recorded 103 M&A deals during Q3 2022, marking a decrease of 12.71% over the previous quarter and a drop of 15.57% over the last four-quarter average.

Canada metals & mining industry M&A deals in Q3 2022: Top deals

The top five metals & mining industry M&A deals accounted for 77.3% of the overall value during Q3 2022.

The combined value of the top five metals & mining M&A deals stood at $434.93m, against the overall value of $562.8m recorded for the quarter.

The top five metals & mining industry M&A deals of Q3 2022 tracked by GlobalData were:

1) International Royalty’s $154.54m acquisition deal with Great Bear Royalties

2) The $107.7m acquisition of Aris Gold by Aris Mining

3) Hastings Technology Metals’s $104.37m acquisition deal for 22.1% stake in Neo Performance Materials

4) The $45.78m asset transaction of Barrick Gold by Maverix Metals

5) Magna Mining’s $22.54m acquisition deal with Lonmin Canada