The total transaction value of US$1.44 billion was propped up by private equity firm Templar Investments' US$1 billion takeover of Oman-based Jindal Shadeed Iron and Steel, announced at the end of June.

Traditional M&A deals announced during the COVID-hit quarter included Northam Platinum's $69 million acquisition of Zambezi Platinum and Hummingbird Resources' acquisition of the Kouroussa gold project, a development asset in Guinea, from Cassidy Gold for an initial US$10 million fee.