Ernst & Young Forecasts Mining M&A To Double This Year

That doubling is from a low base, the Bloomberg story on the subject reports. A double from last year's levels would bring M&A activity up to 2006 levels.

Chinese and Indian buying are expected to help push the totals up, but public companies are expected to do so too:

Mining companies such as Anglo American Plc and Vale SA sold a record amount of dollar bonds last year to bolster war chests for acquisitions, expansions and buybacks. China, the world’s largest metal consumer, may add to last year’s record $32 billion spending on resource acquisitions.

“Many mining and metals companies are looking for acquisitions to fast track supply pipelines, driven by confidence in ongoing underlying demand in China and India,” Elliot said. “We are seeing a lot larger lists of potential buyers than there are assets available.”...

There's already takeover buzz in the junior-mining circuit, although none that I know of which singles out any specific companies.