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REVIEW OF 2011: Glencore IPO was the high, and low, of 2011

December 28, 2011 - 01:37 GMT Location: London

KEYWORDS: review , 2011 , mining and metals , Ungad Chadda , TSX , Nick Clarke , Central Asia Metasl , David Russell , Ernst & Young

Key figures in mining and metals share their thoughts on the year gone by, as well as their expectations for 2012, with Metal Bulletin

Ungad Chadda, senior vice president at TMX

Chadda, who works for the group that owns the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), saw the year as largely positive for mining companies traded there.

“Despite the market volatility in the last half of 2011, mining companies listed on both the TSX and TSXV appear to be resilient, and many have continued to see success in raising capital,” he said.

“On a combined basis, issuers on the TSX and TSXV have raised C$10.9 billion [$10.6 billion] through 1,684 separate financings events as of October 31, 2011,” he added.

The figure is relatively flat against the same period in 2010, during which $11.2 billion was raised, despite the various economic challenges faced by miners globally.

“While the total amount of equity dollars raised has gone down, we have not seen a significant drop,” Chadda said.

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