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Johannesburg - The volume of deals in South Africa's mining and metals sector increased 78% year-on-year (y/y), while deal value increased fourfold to $1.1165bn in 2016, according to an EY quarterly report entitled Mergers, acquisitions and capital raising in the mining and metals sector.
Platinum Group Metals (PGM) transactions drove SA deal value, with platinum deals taking the top two spots in SA for the year, making up half of the deal value for 2016. Sibanye was the acquirer in both of these transactions.
“In 2016, we saw divergence between commodities that’s set to continue this year. There’s no one-size fits all strategy - companies must carve their own strategic path based on their portfolio. Investors need to consider the company and not just the sector broadly,” said Quintin Hobbs, Africa mining and metals transactions leader at EY.
