Australia, Canada takeover to host 45% of global mining deals in 2022
Australia, Canada favoured M&A locations as PwC declares ‘transformational deals are back’
Australia and Canada continue to be the favoured target locations for M&A transactions in mining, with multinational professional services firm PwC also declaring – “transformational deals are back”.
In its 28 March Commodity Insights report, S&P Global reports that as in 2021, Australia and Canada were a hive of activity for M&A in 2022.
Canada (13 deals) and Australia (12 transactions) hosted 45% of the companies and projects targeted for dealmaking last year. The 2 countries accounted for 69% of the total mining deal value last year – Canada at $8.83 billion and Australia at $7.96 billion.
BHP completes $9.6 billion transformational acquisition of copper-gold producer OZ Minerals
Mining behemoth BHP (ASX:BHP) has today (2 May 2023) completed the acquisition of OZ Minerals (ASX:OZL) via implementation of the scheme of arrangement.
The mining giant is now the ultimate parent company of OZ Minerals.
OZ Minerals shareholders today received a total cash consideration of $28.25 per share, comprising the scheme consideration paid by BHP of $26.50 for each OZ Minerals share held at the scheme record date, which was 7pm on 24 April 2023.
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Mining.com.au is Australia’s leading online daily Mining news service, reaching hundreds-of-thousands of mining professionals, investors, and industry participants each month. The Weekly Wrap-Up with Harry Mulholland provides listeners with a recap of the mining headlines each week.
In this episode, Harry reports on news from Kincora Copper (ASX:KCC), Future Battery Minerals (ASX:FBM), Aruma Resources (ASX:AAJ), and Helix Resources (ASX:HLX).