Mining M&A spree to keep Australia dealmaking humming after $37B in Q1

As automakers and chemicals suppliers scramble to secure raw materials, resource-rich Australia has become a rare global bright spot with $37 billion worth of M&A deals in the first quarter, with the trend expected to continue in the near term. | Reuters

Australia’s deal volume in the first quarter was 3.5 percent higher than the same period last year. In comparison, the United States fell 44 percent, while global dealmaking was down 48 percent, according to separate Dealogic data.

Australia supplies just under half of the world’s lithium and is a significant producer of copper, nickel and rare earths and coal. The resources M&A boom is also being fueled by the move by governments to offer subsidies to industries that supply materials for electric vehicles, amid a push to diversify global supply chains after the COVID pandemic.

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