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© Reuters. FILE PHOTO: The logo for Canadian mining company Teck Resources Limited is displayed above their booth at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023. REUTERS/Chris Helgren/File P
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(Reuters) – Glencore (OTC:GLNCY) Plc has offered $22.5 billion for Canadian copper miner Teck Resources (NYSE:TECK) Ltd, the latest in a wave of deals in the global copper industry amid surging demand and tight supply for the red metal anchoring the green energy transition.
“The green energy transition has been a growth driver for many aspects of the metals and mining industry, with demand for key metals such as copper, nickel, lithium and cobalt expected to remain on an upward trajectory and supply to trend downward,” S&P Global (NYSE:SPGI) Commodity Insights analyst Aude Marjolin said in a report.
Following are some of the largest copper mining deals since 2022, according to S&P Global Market Intelligence.
Buyer/Investor Seller M&A type Deal Status
value(million
USD)
Deals in 2022
BHP Lonsdale Investments OZ Minerals Ltd Corporate 6,779.80 Announced
Pty Ltd
Investor group Antofagasta (LON:ANTO) plc Asset- 945 Announced
Reko Diq
project
Metals Acquisition Corp Glencore plc Asset – 1,200.00 Announced
CSA
Project
Rio Tinto (NYSE:RIO) International Turquoise Hill Resources (NYSE:TRQ) Corporate 3,251.30 Completed
Holdings Ltd Ltd
Deals in 2023
Hudbay Minerals (NYSE:HBM) Inc Copper Mountain Mining Corp Corporate 758.5 Announced
Lundin Mining (OTC:LUNMF) Corp ENEOS Holdings Inc Asset – 950 Announced
Caserones
Copper
Mine
