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

Photo: Newmont

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.

 

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:

 

- 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.