[miningmx.com] – AN improvement in commodity prices during the second quarter of 2014 had improved the balance sheets of miners and reduced the need for distress asset sales, said Bloomberg News citing a report from Ernst & Young (EY).
The number of mining mergers and acquisitions declined 41% to 112 in the quarter from a year earlier, said Bloomberg News of EY’s report. The value of the deals was $9.5bn, it said.
However, divestments may pick up pace later in the year. “The industry is waiting for some commodity price stability before taking any adventurous steps, so the next half year may prove to be a waiting game,’ said Lee Downham, global mining transaction chief at E&Y in London.
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