Mining deals plummet in value as commodities bust continues

The end of the mining boom and lower commodity prices are continuing to hit the global mining industry hard as the world's biggest miners sell off unprofitable mines and troubled miners sell assets to cut debt.

A new report by accounting firm Ernst & Young has found that the value of deals globally plunged by 45 per cent over the year to March to $US3.3 billion ($4.5 billion) in the first quarter of 2016.

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