Herbert Smith Freehills Kramer and Cassels Brock & Blackwell were the top mergers and acquisitions (M&A) legal advisers in the metals & mining sector during the first three quarters (Q1-Q3) of 2025 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Financial Deals Database reveals that Herbert Smith Freehills Kramer achieved its leading position in terms of value by advising on $5.8 billion worth of deals. Meanwhile, Cassels Brock & Blackwell led in terms of volume by advising on a total of 16 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The total number of deals advised by Cassels Brock & Blackwell remained mostly at the same level during Q1-Q3 2025 compared to Q1-Q3 2024. However, its ranking by volume improved from the second position to the top spot. Cassels Brock & Blackwell also occupied the second position by value during Q1-Q3 2025.

“Meanwhile, there was more than a three-fold year-on-year jump in the total value of deals advised by Herbert Smith Freehills Kramer during the same period due to involvement in some big-ticket deals. Resultantly, its ranking by value also jumped from 28^th position during Q1-Q3 2024 to the top position during Q1-Q3 2025. It is noteworthy that three of the five deals advised by Herbert Smith Freehills Kramer during Q1-Q3 2025 were billion-dollar deals*. It also held the fifth position by volume during Q1-Q3 2025.”

Cassels Brock & Blackwell occupied the second position in terms of value, by advising on $5.6 billion worth of deals, followed by Clayton UTZ with $5.5 billion, Blake Cassels & Graydon with $5.4 billion, and King & Wood Mallesons with $5.3 billion.

Meanwhile, Fasken Martineau DuMoulin occupied the second position in terms of volume with 16 deals, followed by Blake Cassels & Graydon with 11 deals, McCarthy Tetrault with six deals, and Herbert Smith Freehills Kramer with five deals.

*Valued more than or equal to $1 billion