Oct 29 2018, 3:29 AMOct 29 2018, 4:00 PMOctober 29 2018, 3:29 AMOctober 29 2018, 4:00 PM
Metal and mining companies have increased capital expenditure and are pursing more takeovers for the first time since 2013 , according to Bloomberg News . The world’s 10 biggest firms will have spent a combined $ 1.3bn six years , while mergers and acquisitions in the industry have reached their highest in six years , stimulated by deals like Barrick Gold’s $ 5.4bn takeover of Randgold Resources . Significant moves include BHP raising its annual exploration budget and also increasing its stake in SolGold , Vale expanding its $ first Brazilian copper operation, while Fortescue recently approved a $ 35bn project for a new iron ore mine.