May 16, 2019 / 8:29 PM / 3 months ago

Iamgold explores possible sale: Bloomberg

(Reuters) - Canada’s Iamgold Corp is exploring a possible sale of all or parts of the gold miner business, Bloomberg reported on Thursday, citing people familiar with the matter.

The company, which has four operating gold mines, is working with advisers and has been in talks with several potential buyers, according to the report.

Iamgold was not immediately available for comment.

Gold producers have been looking to consolidate to boost shrinking gold reserves and as prices for the precious metal rise.

Barrick Gold Corp bought Randgold Resources in January, while Newmont Mining acquired Goldcorp Inc last month to create the world’s biggest gold producer.

Earlier this month chief executive of Canada’s Iamgold Corp said the gold industry is likely to see an increase in buyout deals in the near future as miners fight to attract a shrinking pool of investment capital.

Reporting by Arundhati Sarkar in Bengaluru; Editing by Anil D'Silva

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