Mining M&A spree to keep Australia dealmaking humming after $37bn in Q1

As automakers and chemicals suppliers scramble to secure raw materials, resource-rich Australia has become a rare global bright spot with $37 billion worth of M&A deals in the first quarter, with the trend expected to continue in the near term.

The increased dealmaking activity is forecast to be mainly supported by cash-rich miners looking to expand quickly via acquisitions to tap into the rising resource demand and others looking to divest their fossil fuel portfolios, bankers and analysts said.