Deals in metals and mining industry reach $US3.68bn

Global deals in the metals and mining industry have amounted to $US3.68 billion ($5.36 billion) in July 2019, according to data and analytics company GlobalData.

The value marked an increase of 44.8 per cent over the previous month while dropping 46.3 per cent when compared with the previous 12-month average of $US6.84 billion.

The number of deals dropped by 8.9 per cent compared with the past 12-month average with 102 deals against the average of 112 deals.

Asia-Pacific led the rest of the world in activity with deals worth $US2.06 billion.

The top five deals accounted for $US3.25 billion against the overall value of $US3.68 billion recorded for the month.

The largest agreement was a $US1.2 billion private equity deal with Hebei Baosteel Canning North by Anhui Industry Mergers and Acquisitions Fund, Beijing Jinshi Hongyi Equity Investment Fund, GoldStone Investment and Sanxia Jinshi Investment Management.

The other deals were a $US841.11 million asset transaction with Arcelor Mittal by Liberty House, Baosteel Hong Kong Investment’s $US658.99 million acquisition of Maanshan Iron & Steel, the $US283 million asset transaction with N-Mining by Kinross Gold, and Resolute Mining’s acquisition of Toro Gold for $US274 million.

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