Gold was once again the dominant theme of mergers and acquisitions (M&A) deals within the precious and base metals mining space in 2024, accounting for 70% of the year’s transaction count and total value, says S&P Global.
According to data tracked by S&P, the number of M&A transactions with gold as the primary resource metal more than doubled those in base metals at 43 (versus 19). The total transaction value was also nearly three times higher for gold at $19.31 billion, compared to $7.23 billion for base metals.
While the total M&A deal value of $26.54 billion was roughly the same as 2023 ($26.36 billion), the number of deals in gold increased by 32% from 47 to 62, including 13 more deals in gold. This highlights the increased appeal of gold in 2024 amid escalating geopolitical risks, which sent the metal’s price to multiple records, ending the year with a 27% gain.
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