Global mergers and acquisition (M&A) deals hit a resurgence last year with volumes reaching up to US$3 trillion ($4.47 trillion), according to law firm Baker McKenzie.
The firm predicts the 2026 landscape to be shaped by regulatory scrutiny, investments in artificial intelligence (AI), and geopolitical uncertainty.
The mining industry has been heavily involved in each of these three factors, with AI taking off as a useful tool for resources companies in the past year.
As reported by Mining.com.au, AI growth and geoeconomic shifts in clean technology markets confirm that energy expansion and sustainability are linked imperatives, with uptake set to soar, according to S&P Global Energy’s Horizons Top Trends report for 2026.
MinRex Resources (ASX:MRR) and Electrum Discovery (TSX-V:ELY) have elected to merge through a definitive arrangement agreement to create a strengthened gold-copper explorer.
MinRex will wholly acquire Electrum’s issued and outstanding shares, representing a $28 million merger of Electrum’s gold and copper assets in Serbia and MinRex’s gold and base metals portfolio in New South Wales, Australia.
Electrum shareholders will hold interest in around 49% of the merged company, while MinRex holders obtain the other 51%.
MinRex Director James Pearse says the merger marks a “pivotal moment” for both companies.
“By combining Electrum’s highly prospective and advanced Serbian gold-copper assets with MinRex’s established New South Wales project portfolio, we are creating a stranger, well-funded exploration company with enhanced scale, diversification, and technical depth,” Pearse says.
“The merged group is positioned to deliver meaningful discovery and resource growth-focused exploration activity across two tier-one jurisdictions, with activities to commence immediately post completion of the transaction.”
The transaction is expected to be completed in March 2026 following customary approvals and conditions.
Electrum CEO Elena Clarici says the transaction is “transformational” for the company.
“It unlocks an Australian public listing, strengthens our leadership team, and significantly improves our balance sheet,” Clarici says.
“I strongly believe that this transaction provides our shareholders with a significant re-rating opportunity through a larger, more diversified, and well-financed company.
“We look forward to working with MinRex and their team to unlock the value potential of our advanced Serbian portfolio together with the merged group’s compelling portfolio of gold, copper, and base metal projects across Serbia and Australia.”
Highlights for the merged company include an inferred resource of 670,000 ounces gold equivalent @ 2.9 grams per tonne gold equivalent at the Tlamino Gold Project in Serbia, as well as a preliminary economic assessment for the project completed in 2021.
MinRex’s treasury will drive resource growth drilling and discovery-focused exploration at Tlamino, focusing on areas surrounding the Barje deposit.
Dalaroo swims the Blue Lagoon
Dalaroo Metals (ASX:DAL) has completed the acquisition of the Blue Lagoon Project in Greenland from privately held Ox Resources.
The company secured an option over the project in February 2025 and has since satisfied all conditions listed under the transaction.
Dalaroo has paid an option fee of $50,000, as well as $150,000 in cash after exercising the option. Conditions precedent include Dalaroo conducting a minimum of $150,000 of exploration expenditure on the project and completing due diligence.
Dalaroo CEO John Morgan says the completion of this acquisition is an “important step in Dalaroo’s strategy to build a diversified portfolio of high-quality exploration assets with exposure to critical minerals”.
“Blue Lagoon presents a compelling geological opportunity in a proven alkaline province, with historical geochemical data indicating anomalous zirconium, niobium, and rare earth element values that have never been systematically followed up using modern exploration techniques,” Morgan says.
“Our initial field program marks the first step in applying contemporary geological, geochemical, and mineralogical approaches to the project.
“While the project remains at an early stage, the geological setting and near-surface exploration concept align well with our focus on assets that have the potential for scale and favourable development characteristics.”
Red Bird flaps to new majority owner
SQX Resources (ASX:SQX) has completed its acquisition of privately held company AM6, securing an 80% stake in the Red Bird Gold Project in Arizona and the Williams Gold-Silver Project in Montana.
The company entered a binding agreement in October 2025 to acquire an 80% stake in AM6’s issued share capital for a total consideration of 20 million shares, $250,000 cash, and 30 million performance rights after completing exploration and development milestones.
The performance rights will convert into shares in lots of 10 million for a maximum of three tranches.
Milestones include the completion of 1,500m of drilling at either project within 18 months of the acquisition and a drilling intercept of up to 50m exceeding 20 grams per tonne or metres of gold equivalent within two years of completion.
Additional milestones include defining an exploration target of at least 250,000 ounces gold equivalent at a minimum grade of 1g/t and minimum cut-off grade of 0.5g/t, and announcing a resource estimate of at least 300,000 ounces gold equivalent with the same grade minimums.
Executive Chairman Patric Glovac says the acquisition is a “transformational step for SQX”.
“We now own 80% of two exceptional high-grade North American precious metals projects, each with validated historical data and extensive upside,” Glovac says.
“The recent sampling programs undertaken by AM6 at both Red Bird and Williams have confirmed the potential bonanza-grade nature of these systems and given us high confidence moving into drilling.”
AM6 received approval from the Bureau of Land Management (BLM) to begin a maiden drilling campaign at the Red Bird last week, as reported by Mining.com.au. The notice of intent marks the final regulatory permits required for drilling at Red Bird.
Write to Maddison Elliott at Mining.com.au
Images: MinRex, Dalaroo &SQX
