1. Strategic Planning
   • Define Objectives: Clearly outline the strategic objectives of the M&A, such as expanding resource base, entering new markets, or acquiring new technology.
   • Identify Targets: Use strategic criteria to identify potential acquisition targets that align with your objectives.
2. Due Diligence
   • Financial Review: Examine the financial health of the target company, including assets, liabilities, revenue streams, and cost structures.
   • Operational Review: Assess the operational efficiency, mine plans, production processes, and logistical considerations.
   • Legal and Regulatory Compliance: Ensure the target complies with all legal and regulatory requirements, including environmental and safety regulations.
3. Valuation
   • Asset Valuation: Determine the value of the target's assets, including mineral reserves and resources, equipment, and infrastructure.
   • Market Analysis: Analyse market conditions, commodity prices, and future market trends to inform the valuation.
   • Synergies Assessment: Evaluate potential synergies, cost savings, and revenue enhancements that the acquisition could bring.
4. Negotiation
   • Offer Structure: Decide on the structure of the offer, whether it will be a cash purchase, stock exchange, or a combination.
   • Terms and Conditions: Negotiate the terms and conditions of the acquisition, including price, payment terms, and any contingencies.
5. Financing
   • Funding Sources: Identify and secure financing for the acquisition, which may include internal funds, debt, equity, or a combination.
   • Financial Modelling: Develop financial models to project the impact of the acquisition on the company’s financials.
6. Regulatory Approval
   • Compliance: Submit necessary documentation to relevant regulatory bodies and obtain all required approvals.
   • Stakeholder Engagement: Engage with stakeholders, including shareholders, employees, and local communities, to address any concerns.
7. Integration Planning
   • Integration Strategy: Develop a detailed integration plan to combine the operations, systems, and cultures of both companies.
   • Integration Teams: Assemble dedicated integration teams to manage different aspects of the integration process.
8. Transaction Closing
   • Final Agreements: Finalize and sign all legal agreements and contracts required for the acquisition.
   • Transfer of Ownership: Complete the transfer of ownership and any other formalities necessary to close the transaction.
9. Post-Merger Integration
   • Operational Integration: Implement the integration plan, focusing on aligning operations, processes, and systems.
   • Cultural Integration: Work on integrating the corporate cultures of the merging entities to ensure smooth collaboration.
   • Monitoring and Evaluation: Continuously monitor the integration process and evaluate progress against established goals and metrics.
10. Performance Review
    • Review Objectives: Regularly review the M&A against the original strategic objectives to assess success.
    • Lessons Learned: Document lessons learned and best practices to improve future M&A activities.
    • Adjustments: Make necessary adjustments to the integration plan and operational strategies based on ongoing assessments.

Each of these steps requires meticulous planning, expert advice, and effective execution to ensure a successful mining M&A.