Deal-making across the global metals and mining sector is set to pick up in 2014 following a seven-year low in mergers and acquisitions volume last year, said consultancy and accountancy firm Ernst & Young. The pickup in activity likely will be driven by improving economic sentiment, healthier balance sheets among the large miners, and the presence of private funds with more than $10 billion looking to invest in the mining sector, Ernst & Young said.
M&A activity in the global mining and metals sector reached 703 deals valued at $124.7 billion in 2013, the consultancy said in its mining and metals mergers, acquisitions and capital-raising report. Excluding the all-share merger of Xstrata and Glencore, deal volumes and value were down 25% and 16% year-on-year to 702 and $87.3 billion, respectively. This marks the lowest number of deals in the sector since 2006 and the lowest global deal value since 2009………………………………………..Full Article: Source