Gold M&A Deals Are Accelerating, But Average Deals Are Smaller, Research Shows

Gold miners dominated mergers and acquisitions (M&A) activity in the metals and mining industry in 2024. Research by S&P Global Market Intelligence found that yellow metal deals accounted for 70% of the total transaction value.

The report showed 62 gold-related transactions, compared to 47 in 2023, or a 32% growth. Although the overall deal value remained relatively close, at $26.36 billion, the $16.5 billion Newmont's (NYSE:NEM) acquisition of Newcrest was an outlier, skewing the numbers for the year before.

Most of 2024's M&A occurred in two top jurisdictions, Australia and Canada. Gold's 27% surge in 2024 further incentivized acquisitions, while geopolitical risks, including the persisting conflict in Ukraine, tensions in the Middle East, and rising central bank purchases, encouraged expansions through acquisitions.

Northern Star Resources (OTCPK: NESRF) $3.26 billion acquisition of De ...