However Glencore’s bid for Teck ends, more consolidation looms for Canadian mining
demand growth prior to the 2008 financial crisis, with only the Quadra FNX and Inmet deals completed in 2012 and 2013.
The world needs critical minerals, lots of them, and mines take decades to permit and develop. The best way to grow a portfolio and avoid development risk is to buy producing assets or those under development. It makes perfect sense that Glencore wants additional exposure to critical minerals; it is betting on looming metal price increases, as demand is forecast to soon outstrip supply. If it is unsuccessful in its run at Teck, it is likely to remain a buyer.
If this is the beginning of a supercycle in critical minerals, more Canadian companies and assets will become the targets of mergers and acquisitions.
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