APAC Metals and Mining Deals Up
During Q4 of 2020 Asia Pacific’s metals and mining industry boasted an increase of 3.7% in cross border deal activity (as compared to Q4 2019). A total of 28 cross border deals worth US$1.02 billion were announced during Q4, largely comprising M&A deals (92.9%), followed by venture financing (3.6%). Some notable deals include
- ASX-listed Nikel Mines’ US$490 million asset transaction with Shanghai Decent Investment Group to acquire a 70% interest in the Angel Nickel project;
- PT Wasesa Indo Nusa’s US$163.4 million acquisition of Indokal (a wholly-owned subsidiary of AIM-listed Asiamet Resources);
- TSX-listed Elemental Royalties’’ US$55 million asset transaction with ASX-listed South32;
- Enaex’s (the world’s third largest producer of industrial grade ammonium nitrate) US$45 million acquisition of Downer Blasting Services; and
- UK-based Liberty House Group’s US$36.7 million acquisition of India’s SBQ Steels.
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