Video News/Digging Deep

Joe Mazumdar, Co-Editor & Analyst at Exploration Insights, says mining M&A is becoming more competitive as quality production assets become harder to find. Speaking with Kitco Mining’s Digging Deep from the Rule Symposium 2026, Mazumdar said the competing bids for Vault Minerals show that buyers are willing to pay up for scarce producing assets rather than take on permitting delays, capital escalation and labor risk. “They would rather pay a premium on production,” he said. Mazumdar is also watching whether the next wave of deals moves into development-stage assets with the highest probability of becoming mines. In copper, he said Chinese buyers remain active in Peru as smelters compete for limited concentrate and major mine disruptions tighten supply. In Yukon, Talamore Mining’s C$588 million Coffee financing shows how stranded assets can be revived in a stronger market. In Arizona, South32’s Hermosa has cleared a key U.S. permitting hurdle, though capital intensity remains the bigger test.