Biggest B.C. mining mergers and acquisitions of 2018


Ranked by dollar value of the deal in CAD

Published March 12, 2019. Sources: Interviews with companies, agents and advisers below, and BIV research. For a deal to be included on this list, with the acquiring or target company must have headquarters in B.C. Foreign currency has been converted using Bank of Canada's closing rate on date of deal announcement. NP = Not provided

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Rank '19 Acquiring company Target company Deal announced/Deal closed Description of the deal Primary financial/accounting firms and underwriters Primary law firms Deal value in CAD

South32 Ltd

Arizona Mining Inc

June 18, 2018
August 11, 2018

Acquisition of Arizona Mining Inc by Australia's South32 Ltd; the transaction consideration of US$1.3 billion was funded from cash on hand

Goldman Sachs (South32); Scotiabank (Arizona Mining)

Blake, Cassels & Graydon LLP (Scotiabank); Osler, Hoskin & Harcourt LLP (South32)[ Davies Ward Phillips & Vineberg (Arizona Mining)

$2.1 billion


Zijin Mining Group Co

Nevsun Resources Ltd

September 5, 2018
December 28, 2018

Zijin acquired all of the issued and outstanding shares of Nevsun for $6 per share

Morgan Stanley (Zijin); BMO Capital Markets (Nevsun)

Fasken Martineau DuMoulin LLP (Zijin); Blake, Cassels & Graydon LLP, Borden Ladner Gervais LLP and Gibson, Dunn & Crutcher LLP (Nevsun)

$1.9 billion


CITIC Metal Co Ltd and Zijin Mining Group Co Ltd,

Ivanhoe Mines

June 11, 2018
September 19, 2018

CITIC Ltd acquired a 19.9% minority stake in Ivanhoe Mines Ltd. On July 8, 2018, Zijin Mining Group Co Ltd, a returning investor, exercised its anti-dilution rights and subscribed for 21,195,652 shares for $78 million

Ernst & Young Hua Ming LLP and RBC Capital Markets (CITIC); BMO Capital Markets and Citigroup (Ivanhoe)

Baker & McKenzie LLP (CITIC); Fasken Martineau DuMoulin LLP (Zijin); Stikeman Elliott LLP (Ivanhoe)

$801 million


Wheaton Precious Metals


June 16, 2018
July 25, 2018

Wheaton Precious Metals Corp., through subsidiary Wheaton Precious Metals International Ltd., closed a gold and palladium streaming agreement with Sibanye-Stillwater in a US$500 million deal


Cassels Brock & Blackwell LLP

$658.9 million


Hecla Mining Co

Klondex Mines Ltd

March 19, 2018
July 23, 2018

Hecla Mining acquired the issued and outstanding shares of Klondex Mines for US$462 million

CIBC, JP Morgan

Cassels Brock & Blackwell LLP and K&L Gates (Hecla); Cravath, Swaine & Moore LLP (JP Morgan); Bennett Jones LLP and Dorsey & Whitney LLP (Klondex)

$611.6 million

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