The Globe and Mail reports in its Tuesday edition that the likes of Barrick Gold are determined to avoid the mistakes of the past -- namely, overpaying on acquisitions. The Globe's Andrew Willis writes, however, that the mood is completely different at mid-cap miners, such as Teck Resources and First Quantum Minerals. Their leaders see a once-in-a-generation opportunity to boost profits from producing critical minerals such as copper. Demand is expected to soar, on the back of an increasingly electrified economy, while supply is in decline. With the future bright, boards want to see any potential buyer pay a significant premium. Last week's report that First Quantum ended takeover talks with Barrick, and Teck's refusal to engage with suitor Glencore PLC, reflect this reality. The buyers want to bulk up, without blowing up their balance sheets. Sellers, on the other hand, are only willing to walk down the aisle after getting massive doweries. Their boards can just say no to perceived low-ball offers, confident the commodity cycle is going to keep boosting their stock prices. Scotiabank analyst Orest Wowkodaw said, "A potential zero-premium combination with Barrick makes little sense for First Quantum shareholders."