Canada’s metals and mining industry saw a drop of 17.5% in overall deal activity during September, when compared with the last 12-month average, according to GlobalData’s deals database.
A total of 33 deals worth $383.35-million were announced in September, compared with the 12-month average of 40 deals.
Mergers and acquisitions (M&A) was the leading category in the month in terms of volume with 28 deals, which accounted for 84.9% of all deals, followed by private equity with five deals which accounted for 15.1% of overall deal activity in the country’s metals and mining industry.
In terms of deal value, M&A was the leading deal category with total deals worth $368.39-million, followed by private equity deals totalling $14.96-million.
The top five metals and mining industry deals of September tracked by GlobalData were Osisko Gold Royalties’ $254.73-million acquisition of Barkerville Gold Mines, the $53.08-million acquisition of Core Gold by Titan Minerals, Pretium Exploration’s $41.3-million asset transaction with Osisko Bermuda, the $7.55-million acquisition of Legendary Ore Mining by Lakefield Marketing and RCF VI CAD’s private equity deal with NorZinc for $6.04-million.