Deals
Kinross Chief Says Gold’s Decline May Spur Consolidation
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Gold’s decline may drive an increase in consolidation among companies that mine and explore for the metal, according to the chief executive officer of Kinross Gold Corp., Canada’s third-largest producer.
“You may see some consolidation within the industry around balance-sheet strength and margin and free cash flow and quality assets that need funding,” Paul Rollinson said yesterday in a telephone interview from Russia, where he was visiting the company’s new Dvoinoye mine. “You may see a gold price-driven wave of M&A activity.”