The total M&A deal value for gold in 2024 was $26.54 billion, more or less the same as $26.36 billion in 2023.
SEATTLE (Scrap Monster): S&P Global reports that throughout the past year, gold has once again become the most common subject in mergers and acquisitions (M&A) transactions involving the mining of precious and base metals. About 70% of all transactions in 2024, both in terms of quantity and total value, involved gold.
According to data, there were 43 M&A transactions using gold as the major resource metal, more than twice as many as those involving base metals (19). At $19.31 billion, the entire transaction value for M&A activity in gold was nearly three times that of base metals, which came in at $7.23 billion.
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About the same as $26.36 billion in 2023, the total M&A deal value for gold in 2024 was $26.54 billion. Nonetheless, the quantity of gold transactions increased by over one-third, from 47 to 62, underscoring the yellow metal's increased demand in the face of growing geopolitical threats.
It should be mentioned that Newmont's $16.49 billion acquisition of Newcrest distorted the 2023 numbers. In 2024, however, there were no such enormous deals. Additionally, gold-related transactions were continuously high across the year's four quarters.
S&P believes that the total M&A activity in gold will continue to be even more robust in 2025, based on the agreements that were disclosed in the first quarter of 2025. Equinox Gold announced in February 2025 that it will pay $1.87 billion to acquire Calibre Mining.
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