Canadian dealmakers expect low-carbon shift will drive mining M&A – by Maiya Keidan (Reuters – April 20,2023)

TORONTO, April 20 (Reuters) – Canadian advisors to mergers and acquisitions (M&A) expect a shift toward low-carbon technologies and government subsidies for them will spur dealmaking in mining for years to come and some are already gearing up for it.

Critical minerals including copper, nickel, lithium, and cobalt – all abundant in Canada – have a big role in the manufacturing of renewable energy systems, especially electric vehicles (EVs), making those miners prime candidates for dealmaking. “We’re very bullish on the next couple of years in mining,” said Bill Vlaad, a Toronto-based recruiter who specializes in the financial services sector.

Vlaad said his team is adding a new recruiter shortly with a mining and capital markets background. Clients are hiring mining people within dealmaking teams, and boutique M&A advisory firms are adding talent, mostly in mining, he said.

Canada this year expanded an investment tax credit to equipment needed by mining companies – and any other companies in the EV supply chain – to extract or process critical minerals. But companies are already scrambling to scale up.

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