Firms face stronger competition in mining M&A transactions

BEIJING - China, which dominated the global mining and metals transactions market in 2009, has faced stronger competition this year, being ranked fourth in global market share in the first three quarters, the consultancy firm Ernst & Young said on Thursday.

"China is still very significant in global mining and metals deals, but it cannot return to the days of the global economic downturn when traditional investors were not in a position to buy assets," said Ernst & Young Global Mining & Metals Leader, Mike Elliott.

The latest report from Ernst & Young indicated that the value of China's mining and metals deals running up to Sept 30 surged 53 percent to $8.9 billion and the number of outbound deals rose 108 percent to 49.