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First Quantum Minerals Ltd
Symbol FM
Shares Issued 691,787,827
Close 2022-09-12 C$ 24.89
Recent Sedar Documents

Globe says Copper Mountain, rivals seen as targets

2022-09-13 09:04 ET - In the News

See In the News (C-CIA) Champion Iron Ltd

The Globe and Mail reports in its Tuesday, Sept. 13, edition that merger and acquisition activity is picking up in mining, as global companies snap up smaller producers of metals that are essential to an electrified economy. The Globe's Andrew Willis writes that analysts predict targets in the next round of acquisitions will include companies that have producing mines around the world, including Champion Iron, Copper Mountain Mining, First Quantum Minerals, Hudbay Minerals and Ivanhoe Mines. Judging by the latest round of deal making, Mr. Willis says the tone of the takeovers is likely to be hostile. Four analysts at Scotiabank concluded this month that major international miners own very few quality development projects. However, they do have strong balance sheets, courtesy of the recent strength in commodity markets. Mr. Willis says that is a starting point for a boom in M&A activity. He says the frenzy is being fuelled by investors willing to pay a premium for mining stocks that offer exposure to metals used in high-growth sectors, such as electric-vehicle manufacturing. Scotiabank analysts say large global mining companies are now shopping for bargains in Canada.

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