Resource price volatility stymies deals in mining and metals, says PwC GLOBAL mergers and acquisition activity in the mining and metals industry dropped by about two-thirds on year in the first quarter as mining companies adopted a 'wait and see' approach to investment due to the continued drop in commodity prices and uncertainty about the health of the global economy, said consultancy and accountancy firm PwC. M&A activity in metals and mining in terms of value dropped to $US6.8 billion in the first quarter of this year, compared with $US20.1 billion in the same quarter a year before. Meanwhile, the number of deals also decreased about 45 per cent, to 18 deals from 33 deals, resulting in an average deal value of $US379 million in the first quarter of 2013 compared with $US610 million in the same quarter a year before.