Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
China’s percentage of international mining merger and acquisition deals nearly doubled during the first half of the year according to a new report from PricewaterhouseCoopers (PWC).
According to the report although the total volume of international mining M&A deals fell by 30% to 940 transactions, China-led deals rose from 7% of the total to 13%.
Despite the number of deals declining the total value of mining M&A transactions nonetheless increased, reaching $79 billion compared to $71 billion during the same period last year.
According to the China Daily despite emphatic signs of an economic slowdown in the Middle Kingdom and ailing demand for key commodities such as iron ore and coal, appetite for resource deals form Chinese players remains strong due to upbeat expectations for long-term demand.
Gold dominated M&A deals during the period, spurred by stronger demand from China’s increasingly affluent consumer base.
