IAMGOLD Corp. failed to strike a deal with several Chinese bidders over a potential sale of the company, Bloomberg News reported Oct. 9, citing people with knowledge of the matter.
In May, the news agency reported that IAMGOLD was exploring a full or partial sale of the company, amid a string of consolidations in the gold mining industry.
China National Gold Group Corp., Shandong Gold Mining Co. Ltd. and Zijin Mining Group Co. Ltd. had expressed interest, but talks reportedly fell through over the purchase price and concerns related to tensions between China and Canada.
One of the sources told Bloomberg that IAMGOLD may receive an improved offer or may pursue other options, such as divesting a stake in its majority-owned Cote project in Ontario, where construction was postponed in early 2019.
