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Mining Deals Final New 2

Mining Deals Final New 2

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Published by: brett81 on Jul 09, 2009
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IndustriesEnergy, Utilities & Mining
Mergers and acquisitions activityin the mining industry2008 Annual Review
Mining Deals 2008
is based on published transactions from the Dealogic ‘M&A Global’ database, December 2008. Analysisencompasses announced deals, including those pending financial and legal closure and those which are completed. Deal values arethe consideration value announced or reported including any assumption of debt and liabilities. Figures relate to actual stakepurchased and are not multiplied up to 100%. The geographical split of the deals refers to the location of the purchased asset(s).Where this is not clearly identified or relates to multiple geographical regions, the deal region is stated based on the location of thetarget company. The analysis relates to the extractive mining sector and therefore excludes related sectors such as the steel industryand metals trading sectors. The sector and subsectors analysed include: precious metals (e.g. gold, silver, platinum), base metals(e.g. iron ore, nickel, copper, aluminium), diversified (companies with a wide range of mining activities across subsectors) and other(includes coal, uranium, mineral sands, mining services). Throughout the report, both for 2008 and previous years, we classify theRussian Federation, Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, Tajikistan and Armenia as ‘Russia and the Commonwealth ofIndependent States (CIS)’. A full list of transactions throughout 2008 is available by visiting the
Mining Deals
website atwww.pwc.com/miningdeals.
01Introduction02Report highlights04Deal totals07Deal makers10Deal places
North America
 Asia Pacific (excluding Australasia)
Russian Federation and CIS
 Africa and South America
20Looking ahead21Contact us
We also highlight, in a series of dealdialogues throughout the report, some of thecritical issues for companies engaging in dealactivity within the sector. Drawing on ourglobal experience as an adviser to miningindustry M&A players, our commentaryaddresses all key markets in the sector.Looking ahead, we examine the effect ofcontinuing uncertainties on deal-making in thesector. We look at the consequences of thevery different environment. We consider thepotentially sector-transforming opportunitiesthat will arise and the key role of China indeal-making.Our conclusion is that, while the short-temoutlook for mining deal activity from westerncompanies is subdued, the constraints andcontrasts in the market will create their ownimpetus for deal momentum. Indeed, thosecompanies that have funds available maywell find 2009 to be a year when they canutilise their financial strength and achieveacquisitions at long-term bargain basementprices.
 After the rise comes the fall.The mining industryexperienced a violentdownward tailspin in the lastthree months of 2008 whichhas turned much of thedeal-making in the sector upside down. Aftertwo years of record M&A activity, 2008 turnedout to be a year of extremes with the earlierpart of the year following a pattern establishedin previous years before plunging in a suddenand dizzying vortex in the closing months.
Mining Deals 2008
reviews deal activity in themining industry. The report is a companionpublication to PricewaterhouseCoopers’
Power Deals
O&G Deals
reports. Together the four reportsprovide a comprehensive analysis of M&Aactivity across the extractive and powerindustries worldwide.We examine both the rationale behind theoverall trends and look at the key individualdeals. We look at the year under review, thecontext of the preceding three years, andahead to the future direction of deal-makingin the sector.
Tim Goldsmith
Global Mining Leader

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