Mining M&A doubles in H1 - report

Mining mergers and acquisitions doubled in tgold ore detector undergroundhe first half, coming close to the total for the whole of last year, although the pace was tempered by concerns over global macroeconomics and resource nationalism, advisory and accountancy firm Ernst & Young said on Monday.

Total deal value jumped to $96.3 billion from $47.9 billion in the year-earlier period, in part reflecting the larger size of deals in the sector. There were $113.7 billion of deals made in the whole of last year. Coal deals led the way in terms of value while gold transactions were tops by volume. "Momentum is growing," Lee Downham, Ernst & Young's global mining & metals transaction advisory leader told Reuters, adding that he expects more deals to be completed in the second half than the first. "We could see over $2 billion worth of deals by the end of the year," he said. The number of initial public offerings in mining & metals rose 30 percent to 73 in the first half, while total proceeds more than doubled to $13.0 billion, mainly on the $10 billion listing of commodities trader Glencore...