THE GLOBAL CREDIT CRUNCH MAY HAVE put a damper on deal-making activity, but don’t tell that to the bosses of big mining and metals companies. Much to Wall Street’s delight, those executives have been on an acquisition binge to gain scale at a time when the rapid industrialization of emerging-markets economies is driving up the prices of metals and minerals. Investment banking revenues from metals and mining M&A activity surged 45.4 percent, to $1.66 billion, in the 12 months to mid-February.

JPMorgan Chase & Co. took best advantage of the trend. The bank tops the sector league table with an estimated $196.7 million in advisory revenues, good for an 11.88 percent market share, according to data provider Dealogic. That figure was more than double the bank’s revenues for the year-earlier period. Goldman, Sachs & Co. jumps from seventh place to second with $165.2 million in revenues, up 183 percent from a year earlier. Morgan Stanley maintains its third-place position; its revenues are up by “only” 74 percent, at $147.9 million.