Source – Mining Intelligence

1) Zhaojin Mining (SHA: 1818) & Tietto Minerals Ltd. (ASK:TIE) – In November 2023, Glencore acquired the steelmaking coal business of Teck Resources for $9 billion. The acquisition was completed in July 2024, significantly expanding Glencore’s coal operations. Initially, Glencore planned to spin off its coal assets but decided in August 2024 to retain them, citing enhanced cash generation and opportunities in transition metals.

2) BHP (ASX: BHP) and Lundin Mining’s (TSX: LUN) Joint Acquisition of Filo Corp. –  In July 2024, BHP and Lundin Mining agreed to jointly acquire 100% of Filo Corp. through a Canadian plan of arrangement. They also formed a 50/50 joint venture to hold the Filo del Sol and Josemaria projects, aiming to strengthen their positions in the copper and gold sectors.

3) Consol Energy (NYSE: CEIX) and Arch Resources’ (NYSE: ARCH) Merger – In August 2024, Consol Energy and Arch Resources announced an all-stock merger to create Core Natural Resources, a North American coal mining giant valued at over $5 billion. The new entity plans to export a significant portion of its production to fast-growing Asian markets.

4) Coeur Mining’s (NYSE: CDE) Acquisition of SilverCrest Metals (TSX: SIL) – In October 2024, Coeur Mining announced its intention to acquire SilverCrest Metals for $1.7 billion. This strategic move aims to create a leading global silver company by integrating low-cost silver and gold production, with the merger expected to produce significant outputs by 2025.

5) Rio Tinto’s (LON: RIO) Acquisition of Arcadium Lithium – In October 2024, Rio Tinto acquired Arcadium Lithium for $6.7 billion, aiming to strengthen its position as a major lithium supplier. This acquisition occurred amid low lithium prices and an oversupplied market, reflecting Rio Tinto’s strategic investment in the growing demand for lithium in electric vehicle production.

6) Peabody Energy’s (NYSE: BTU) Purchase of Anglo American’s (LON: AAL) Coal Assets – In November 2024, Peabody Energy acquired Anglo American’s Australian steelmaking coal mines for up to $3.8 billion. This strategic purchase enhances Peabody’s position in the metallurgical coal market and strengthens Anglo American’s balance sheet.

7) AngloGold Ashanti’s (NYSE: AU) Acquisition of Centamin (LON: CEY) – In September 2024, AngloGold Ashanti agreed to acquire Centamin for £1.9 billion, targeting Centamin’s Sukari gold mine in Egypt. This move is part of a broader trend of consolidation in the gold mining sector, driven by rising costs and the need for larger market capitalizations.

8) Northern Star’s (ASX: NST) Acquisition of De Grey Mining (ASX: DEG) – In October 2024, Northern Star acquired De Grey Mining for $5 billion. This acquisition positions Northern Star to potentially fill the void left by Newcrest Mining’s previous purchase by Newmont, creating a significant gold mining powerhouse on the ASX.

9) Agnico Eagle Mines’ (NYSE: AEM) Acquisition of O3 Mining (TSXV: OIII) –

In December 2024, Agnico Eagle Mines announced an all-cash offer to acquire O3 Mining for $1.67 per share, representing a 58% premium to O3 Mining’s closing price on December 11, 2024. The offer was unanimously recommended by the Board and Special Committee of O3 Mining.

10)  Hudbay Minerals’ (TSX: HBM) Acquisition of Copper Mountain Mining (TSX: CMMC) –

In March 2024, Hudbay Minerals completed the acquisition of Copper Mountain Mining in a cash-and-stock deal valued at $439 million. This merger was driven by Hudbay’s strategy to consolidate high-quality copper assets amid growing demand for the metal in renewable energy and electrification markets. The acquisition adds Copper Mountain’s flagship mine in British Columbia to Hudbay’s portfolio, enhancing its production capacity and positioning it as a leading mid-tier copper producer.

These significant M&A activities in 2024 underscore the mining industry’s dynamic nature and strategic efforts to enhance resource portfolios and operational footprints across various commodities and regions.