Factbox: Red-hot copper riding a new wave of consolidation

MAC Copper

19/04/2023 13:02

April 19 (Reuters) - Glencore Plc  GLEN.L  has offered $22.5 billion for Canadian
copper miner Teck Resources Ltd  TECKb.TO , 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
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  OZL.AX      Corporate   6,779.80       Announced
 Pty Ltd  BHP.AX                                                                   
 Investor group            Antofagasta plc  ANTO.L      Asset-      945            Announced
                                                        Reko Diq                   
                                                        project                    
 Metals Acquisition Corp   Glencore plc  GLEN.L         Asset -     1,200.00       Announced
  MTAL.N                                                CSA                        
                                                        Project                    
 Rio Tinto International   Turquoise Hill Resources     Corporate   3,251.30       Completed
 Holdings Ltd  RIO.AX      Ltd                                                     
 Deals in 2023
 Hudbay Minerals Inc       Copper Mountain Mining Corp  Corporate   758.5          Announced
  HBM.TO                    CMMC.TO                                                
 Lundin Mining Corp        ENEOS Holdings Inc  5020.T   Asset -     950            Announced
  LUN.TO                                                Caserones                  
                                                        Copper                     
                                                        Mine                       
 
  

 (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))