全球矿业并购市场特点及前景展望  

Characteristics and prospects of global mining M&A market

作　　者：韩见 夏鹏[1,2] 朱清 潘志君 武海炜 刘盼盼 奚晓谦 HAN Jian;XIA Peng;ZHU Qing;PAN Zhijun;WU Haiwei;LIU Panpan;XI Xiaoqian(International Mining Research Center,China Geological Survey,Beijing 100037,China;China Mining News Agency,Beijing 100037,China)

机构地区：[1]中国地质调查局国际矿业研究中心,北京100037 [2]中国矿业报社,北京100037

出　　处：《中国矿业》2021年第3期8-13,共6页China Mining Magazine

基　　金：中国地质调查局地质调查项目“全球矿业大数据挖掘集成与智能决策服务平台建设”资助(编号:DD20201118);中国地质调查局地质调查项目“地质调查成果多维度传播与推广”资助(编号:DD20190482);中国地质调查局地质调查项目“地质云系统集成与共享服务(中国矿业报社)”资助(编号:DD20190400)。

摘　　要：矿业并购是矿业公司提升综合实力完成跨越式发展的重要途径。从2010年到2019年,全球矿业环境发生了重大转变,目前已经呈现出了新的发展趋势,优质矿山的发现率越来越低,开发新项目的难度正在加大。当前矿业公司要想扩大规模巩固地位,或实现弯道超车进入巨头行列,进行矿业并购成为最好的途径,因此研究全球矿业并购市场特点对我国矿业公司制定并购战略具有重要参考意义。本文主要从国际大型矿业公司并购历程、全球矿业并购市场特点、疫情后全球矿业并购的新趋势等方面系统地分析了全球矿业并购市场,得出如下结论:一是矿业公司真正实现跨越式发展完成蜕变几乎都源于矿业并购;二是2010—2019年间全球矿业并购市场经历了由低迷到活跃的发展周期;三是大型矿业公司一般会选择在市场相对不活跃的时候进行抄底;四是受疫情影响,全球矿业公司呈现分化趋势,预计后疫情时期矿业并购市场将更多地由流动资金充裕的大型矿业巨头主导。Mining M&A is an important way for mining companies to improve their comprehensive strength and complete leapfrog development.From 2010 to 2019,the global mining environment has undergone significant changes,and now it has shown a new development trend.The discovery rate of high-quality mines is getting lower and lower,and the development of new projects is becoming more and more difficult.At present,if the mining companies want to expand the scale and consolidate their position,or achieve overtaking to enter the ranks of giants,mining M&A is the best way.Therefore,studying the characteristics of global mining M&A market has important reference significance for China s mining companies to formulate M&A strategy.This paper systematically analyzes the characteristics of global mining M&A market from the aspects of the M&A history of large international mining companies,the characteristics of the global mining M&A market,and the new trend of global mining M&A after the COVID-19 epidemic.The conclusions are as follows:mining companies have truly achieved leapfrog development and their transformations are almost all due to mining M&A;the global mining M&A market has experienced a development cycle from downturn to active in the past ten years;large mining companies generally choose to buy bottoms when the market is relatively inactive;global mining companies are showing a trend of differentiation affected by the COVID-19 epidemic.It is expected that the mining M&A market in the post-COVID-19 era will be led by large-scale mining giants with abundant liquidity.

关 键 词：矿业公司 矿业并购 新冠肺炎疫情 金融资本 

分 类 号：F407.1[经济管理—产业经济] F416.1