Valuation Trading Multiples & Precedent Transactions: Metals Mining and Processing Companies
Valuation benchmarks for Metals Mining and Processing Companies. Access public trading comps, EV/EBITDA acquisition multiples, and private market data for pitch books and valuation analysis.
1.1 - Metals Mining and Processing Companies Market Context & Valuation Drivers
Companies in this public trading comparables group are integrated metals miners and processors that extract, refine, and manufacture base, precious, and specialty metals. Revenue is primarily from sales of refined metals and semi-finished products across steel, aluminum, copper, and high-performance alloys. They are comparable due to commodity exposure, capital-intensive operations, vertically integrated supply chains, and similar pricing, volume, and margin dynamics.
Typical capabilities span exploration and ore mining for base and precious metals; smelting, refining, and alloying to produce refined copper, alumina, steel, and high-performance alloys; rolling, casting, extrusion, and tube/wire drawing to deliver flat, long, and tubular products; specialty metallurgy for titanium, nickel-based superalloys, and stainless steel; production of concentrates and by-products; recycling and toll processing; and engineered metal solutions for demanding applications in aerospace, automotive, construction, and energy.
Primary customers include automotive and industrial manufacturers, construction and infrastructure contractors, and aerospace and energy OEMs. Valuation benchmarks center on shipment volumes, realized prices and product mix, unit cash costs and EBITDA per ton, capacity utilization and fixed-cost absorption, and margin resilience through cycles. Reserve life and production growth matter for integrated miners, while downstream processors emphasize contract coverage, value-added mix, and working capital efficiency.
2. Valuation Analysis: Public Trading Comps & Multiples for Metals Mining and Processing Companies companies
2.1 - Public Peer Groups & Median Valuation Multiples for Metals Mining and Processing Companies sector
Comparable group 1: Metals Mining and Processing Companies
Zijin Mining
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of mining services, including the exploration and extraction of various metals such as copper, gold, zinc, lithium, silver, and molybdenum, with operations extending across multiple countries. The company focuses on technological innovations and sustainable practices to manage and optimize mining operations.
- Key Products:
- Metal Exploration: Exploration and extraction of metals such as copper, gold, zinc, lithium, silver, and molybdenum
- Mined Copper Production: Significant yearly increases in mined copper output
- Gold Extraction: Production of gold positioning as a leading global company
- Zinc Operations: Production increases and future expansion plans
- Lithium Sector Investment: Investing in lithium exploration in various regions.
Aluminum Corp of China
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of comprehensive solutions in mining, production, and trade within the aluminum industry, leveraging a complete supply chain from raw materials to finished products.
- Key Products:
- Aluminum Hot-Rolled Thick Plates: Best-selling metal plates suitable for various industrial applications
- High Purity AIN Powder: Advanced material used in high-tech manufacturing sectors
- Low Soda Alumina: Essential in the production of refractory materials
- Zeolite For Molecular Sieves: Applied in adsorption and separation processes
- Artificial Marble Aluminum Hydroxide: Provides enhanced durability in construction.