Canada saw fewer mining deals in September compared to the rest of the year – report

Among the top five deals was Osisko Gold Royalties’ $254.73-million acquisition of Barkerville Gold Mines, whose Cariboo gold project is pictured here. (Image courtesy of Barkerville Gold Mines).

Canada’s metals and mining industry saw a drop of 17.5% in overall deal activity during September 2019, when compared with the last 12-month average, a new report reveals.

The document, prepared by market intelligence firm GlobalData, presents a review of all deals the industry registered in September.

A total of 33 deals worth C$383.35 million were announced during the ninth month of the year. This result is seven deals below the 12-month average of 40 deals per month.

“M&A was the leading category in the month in terms of volume with 28 deals which accounted for 84.9% of all deals, followed by private equity with five deals which accounted for 15.1% of overall deal activity in the country’s metals & mining industry,” the report states. 

According to GlobalData, in terms of the value of deals, M&A was the leading deal category with total deals worth $368.39 million, followed by private equity deals, which totalled $14.96 million.

The analysis also shows that the top five deals accounted for 94.6% of the overall value during September 2019, which adds up to $362.7 million. These five deals were Osisko Gold Royalties’ $254.73-million acquisition of Barkerville Gold Mines; the $53.08-million acquisition of Core Gold by Titan Minerals; Pretium Exploration’s $41.3-million asset transaction with Osisko Bermuda; the $7.55-million acquisition of Legendary Ore Mining by Lakefield Marketing; and RCF VI CAD’s private equity deal with NorZinc for $6.04 million.

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