Newmont, Glencore bids crack into metal industry’s top takeovers

Mining dealmaking is heating up, with Newmont Corp. sweetening its bid for Newcrest Mining Ltd. in what would be world’s largest gold acquisition if it succeeds. Meanwhile, Swiss commodities giant Glencore Plc is putting cash on the table to make its effort to buy Canada’s Teck Resources Ltd. more appealing.

Both deals — if completed — would rank among the top 10 biggest takeovers of metals producers. Mining companies are ramping up mergers and acquisitions to help counter industry challenges including depleting assets, higher costs and harder-to-mine deposits.

The global push to shift from fossil fuels to cleaner energy is also creating demand for the industrial metals that underpin the transition.

(By Doug Alexander)