May 1, 2019 / 3:01 PM / a year ago

Iamgold CEO expects more buyout deals in gold industry

NEW YORK, May 1 (Reuters) - 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, the chief executive of Canada’s Iamgold Corp said on Wednesday.

“We are going to see consolidation” in the gold industry, Stephen Letwin, Iamgold’s CEO, said at the Mines & Money conference in New York. “There are too many mid-tier miners. The capital pool is shrinking.” (Reporting by Ernest Scheyder Editing by Chizu Nomiyama)

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