Mining lawyer Fred R. Pletcher says consolidation is the name of the game
Consolidation, environment, social and governance (ESG)-driven transactions, Indigenous consultation, and resource nationalism were four key trends that Fred R. Pletcher, chair of the Mining Group and a partner in the Securities and Capital Markets Group at Borden Ladner Gervais LLP, noted have defined the global mining industry recently. Pletcher was the featured presenter at a July 12 webinar hosted by the CIM Management and Economics Society.
Consolidation
Pletcher stated that since the gold industry is the most fractured of all the metal commodities, gold consolidation has emerged as a strong trend in the past four years.
He referenced Barrick Gold’s no-premium deal with Randgold in 2019, which was followed by Newmont’s acquisition of Goldcorp in the same year, as deals that established both companies as major players in the gold sector.
Other significant deals in this arena identified by Pletcher included Newcrest’s acquisition of Pretium Resources—the Vancouver-based miner that operates the Brucejack mine in northwest B.C.—in 2021, the merger between Agnico Eagle Mines and Kirkland Lake Gold in 2022, and earlier this year, Newmont’s acquisition of Newcrest.
For the rest of this article: https://magazine.cim.org/en/news/2023/the-mining-industry-top-transactional-and-legal-trends-en/