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
1

South32 Ltd
south32.net
ASX:S32

Arizona Mining Inc
arizonamining.com
TSX:AZ

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

2

Zijin Mining Group Co
zijinmining.com

Nevsun Resources Ltd
nevsun.com
TSX:NSU

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

3

CITIC Metal Co Ltd and Zijin Mining Group Co Ltd
citic.com, zijinmining.com

Ivanhoe Mines
ivanhoemines.com
TSX:IVN

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

4

Wheaton Precious Metals
wheatonpm.com
TSX, NYSE:WPM

Sibanye-Stillwater
sibanyestillwater.com
JSE:SGL

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

NP

Cassels Brock & Blackwell LLP

$658.9 million

5

Hecla Mining Co
hecla-mining.com
NYSE:HL

Klondex Mines Ltd
TSX:KDX

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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