More deals in metals and mining

By | 2020-08-17T13:45:05+00:00 August 13th, 2020|

The Middle East and Africa’s metals and mining industry has seen a rise of 16.7% in deal activity in the second quarter of 2020.

Northam Platinum USD69.04-million acquisition of Zambezi Platinum was one of the top metals and mining industry deals of Q2 2020. Image credit: MTE Exhibitions

Northam Platinum USD69.04-million acquisition of Zambezi Platinum was one of the top metals and mining industry deals of Q2 2020. Image credit: MTE Exhibitions

According to GlobalData, the Middle East and Africa’s metals and mining industry saw a rise of 16.7% in overall deal activity during quarter two (Q2) of 2020, when compared to the four-quarter average.

A total of 28 deals worth USD1.44-billion were announced for the region during Q2 2020, against the last four-quarter average of 24 deals. Of all the deal types, mergers and acquisitions (M&A) saw most activity in Q2 2020 with 26, representing a 92.9% share for the region.

In second place was private equity with two deals, capturing a 7.1% share of the overall deal activity for the quarter.

In terms of value of deals, private equity was the leading category in Middle East and Africa’s metals & mining industry with USD1000-million, while M&A deals totalled USD444.98-million.

The top five metals and mining deals in the Middle East and Africa accounted for 98.7% of the overall value during Q2 2020. The combined value of the top five metals and mining deals stood at USD1.43-billion, against the overall value of USD1.44-billion recorded for the quarter.

The top five metals and mining industry deals of Q2 2020 tracked by GlobalData were:

  • Templar Investments’ USD1-billion private equity deal with Jindal Shadeed Iron & Steel
  • The USD300-million asset transaction with AngloGold Ashanti by Harmony Gold Mining
  • Northam Platinum’s USD69.04-million acquisition of Zambezi Platinum
  • The USD45-million asset transaction with B2Gold and GAMS-Mining F&I by West African Resources
  • Hummingbird Resources’ acquisition of Cassidy Gold Guinee for USD12.67-million