US metals & mining industry sees a rise of 23.3% in deal activity in Q3 2020

9 November 2020 (Last Updated November 9th, 2020 18:17)

US metals & mining industry sees a rise of 23.3% in deal activity in Q3 2020

The US metals & mining industry saw a rise of 23.3% in overall deal activity during Q3 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 53 deals worth $1.6bn were announced in Q3 2020, compared to the last four-quarter average of 43 deals.

M&A was the leading category in the quarter with 51 deals which accounted for 96.2% of all deals.

In second place was private equity with two deals accounting 3.8% of overall deal activity in the country’s metals & mining industry during the quarter.

In terms of value of deals, M&A was the leading deal category in the US metals & mining industry with total deals worth $1.59bn, while private equity deals totalled $5.09m.

The US metals & mining industry deals in Q3 2020: Top deals

The top five metals & mining deals accounted for 97.9% of the overall value during Q3 2020.

The combined value of the top five metals & mining deals stood at $1.57bn, against the overall value of $1.6bn recorded for the month.

The top five metals & mining industry deals of Q3 2020 tracked by GlobalData were:

1) The $1.4bn merger of ArcelorMittal USA and Cleveland-Cliffs

2) The $90m asset transaction with Newmont by Maverix Metals

3) Premier Gold Mines USA and Premier Gold Mines’ $50m acquisition of Osgood MiningLLC

4) The $16.8m asset transaction with Barrick Gold by Bullfrog Gold

5) Altius Minerals’ asset transaction with Liberty Metals & Mining Holdings for $8.38m.

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.