Total metals & mining industry mergers and acquisition (M&A) deals in Q3 2020 worth $1.59 billion were announced in the US, according to GlobalData’s deals database.
GlobalData says the value marked a decrease of 13% over the previous quarter and a drop of 10.9% when compared with the last four-quarter average of $1.79bn.
The US held a 22.1% share of the global metals & mining industry M&A deal value that totalled $7.21bn in Q3 2020.
In terms of deal activity, the US recorded 51 deals during Q3 2020, marking a rise of 18.6% over the previous quarter and a rise of 34.2% over the last four-quarter average.
According to GlobalData, the top five metals & mining industry M&A deals accounted for 98.2% of the overall value during Q3 2020.
The combined value of the top five metals & mining M&A deals stood at $1.57bn, against the overall value of $1.59bn recorded for the month.
The top five metals & mining industry deals of Q3 2020 tracked by GlobalData were:
- The $1.4bn merger of ArcelorMittal USA and Cleveland-Cliffs
- The $90m asset transaction with Newmont by Maverix Metals
- Premier Gold Mines USA and Premier Gold Mines’ $50m acquisition of Osgood MiningLLC
- The $16.8m asset transaction with Barrick Gold by Bullfrog Gold
- Altius Minerals’ asset transaction with Liberty Metals & Mining Holdings for $8.38m
