Deals
BlackRock Expects ‘Massive’ Mining M&A on Low Valuations
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BlackRock Inc., which manages $36 billion in natural resources funds, expects the “massive” industry consolidation in mining to continue, driven by low valuations of companies.
“There’s going to be rich pickings for those companies with strong balance sheets when they are looking at M&A,” Evy Hambro, portfolio manager of BlackRock’s $16 billion World Mining Fund, said in an interview. “If you look within the sector, the ones that are the cheapest are the ones that have the financing risk ahead of them.”