Emerging market players such as Randgold Resources, ENRC and AngloGold Ashanti are willing to endure higher levels of political risk and are expected to dominate African mining takeovers.
These miners have already taken over small miners with abundant reserves in places such as the Democratic Republic of Congo, according to a report by Reuters.
Recent acquisitions include ENRC's agreement to acquire Central African Mining & Exploration for $955m and Randgold Resources and AngloGold's purchase of Moto Goldmines for $502.8m.
Emerging miner's small- and mid-cap acquisition targets include Congo-focused Tiger Resources, Southern and Central African-focused Metorex and Sierra Leone-focused African Minerals.
Chilean copper producer Antofagasta is another emerging miner eager to expand operations in Africa. It recently confirmed a $5m deal for an 18% share in Sunridge Gold, which is developing projects in Eritrea.