Canada’s metals & mining industry saw a drop of 34.15% in overall deal activity during October 2022, when compared with the last 12-month average, led by Uranium Energy’s $108.66m asset transaction with Rio Tinto, according to GlobalData’s deals database.

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A total of 27 deals worth $138.6m were announced in October 2022, compared with the 12-month average of 41 deals.

M&A was the leading category in the month in terms of volume with 27 deals, which accounted for 100% of all deals.

In terms of value of deals, M&A was the leading deal category in Canada’s metals & mining industry with total deals worth $138.59m.

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Canada metals & mining industry deals in October 2022: Top deals

The top five metals & mining industry deals accounted for 99% of the overall value during October 2022.

The combined value of the top five metals & mining deals stood at $137.2m, against the overall value of $138.6m recorded for the month.

The top five metals & mining industry deals of October 2022 tracked by GlobalData were:

1) Uranium Energy’s $108.66m asset transaction deal with Rio Tinto

2) The $21.88m asset transaction of Earthlabs by 1377900 BC

3) Cartier Iron’s $4.5m asset transaction deal for Chorrillos Project

4) The $1.24m asset transaction of Newfoundland Discovery by Mining Equities

5) Pacton Gold’s $0.91m asset transaction deal with Chesterfield (Canada) and Chesterfield Resources