Middle East, Africa mining deal activity increases in second quarter

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Overall deal activity in the Middle East and African metals and mining industry increased by 16.7% in the second quarter, data and analytics company GlobalData’s deals database shows.

Twenty-eight deals worth $1.44-billion were announced for the region during the quarter, against the last four-quarter average of 24 deals.

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Of all the deal types, mergers and acquisitions (M&A) saw most activity, with 26 transactions. Private equity accounted for the other two deals.

In terms of deal value, private equity was the leading category in the Middle East and Africa with $1-billion, while M&A deals totalled $444.98-million.

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The top five metals and mining deals accounted for 98.7% of the overall value during the period. The combined value of the top five metals and mining deals stood at $1.43-billion, against the overall value of $1.44-billion recorded for the quarter.

The top five metals and mining industry deals of the period tracked by GlobalData were Templar Investments’ $1-billion private equity deal with Jindal Shadeed Iron & Steel; the $300-million asset transaction between AngloGold Ashanti and Harmony Gold Mining; Northam Platinum’s $69.04-million acquisition of Zambezi Platinum; the $45-million asset transaction between B2Gold and West African Resources; and Hummingbird Resources’ acquisition of Cassidy Gold Guinea for $12.67-million.