Iamgold CEO Predicts 2015 Deal as Industry Consolidates

Iamgold Corp. is hunting for acquisitions and is open to being acquired itself in 2015, fueled by a $500 million cash injection and an industry adjusting to a lower-price reality, according to the Canadian miner’s chief executive officer.

Iamgold could make purchases valued at about $800 million alone or consider larger transactions with a partner, said CEO Steve Letwin, who said he recently met with companies and funds in China that showed interest in partnerships. Iamgold is in active discussions about potential transactions and a deal will probably come next year, he said.