In an otherwise tentative start to 2014, some Canadian mining companies found the right time to make their move.
This quarterly publication presents a current snapshot of the M&A market, providing a review of select key transactions while focusing on the rationale behind those deals as trends take shape. It highlights Canadian transactions, but set in the context of global M&A deals and trends.
In an otherwise tentative start to 2014, some Canadian mining companies found the right time to make their move. Globally, deal value and deal volume shrank back to levels experienced in Q3 2013. However, Canada bucked the global trend by recording its third successive quarter of gains in deal value. Since deal volume in Canada fell to a two-year low in Q1, it follows that some of these deals were major. Gold was the commodity of interest by an overwhelming margin. Gold prices were up 7% over the quarter, and the TSX/S&P Global Gold Index was also up by a solid 16%. Copper prices slipped 10% to their lowest point in over a year.