Source: IAMGOLD Corp
  • IAMGOLD Corporation (IMG) has closed the sale of the company’s 95 per cent interest in Rosebel Gold Mines to Zijin Mining Group
  • The Government of Suriname will continue to hold the remaining 5 percent interest in Rosebel
  • IAMGOLD received approximately $360 million, and the release of its equipment lease liabilities
  • IAMGOLD is a Canada-based gold producer operating mines in North America and West Africa
  • IAMGOLD Corporation (IMG) opened trading at C$3.74

IAMGOLD Corporation (IMG) has closed the sale of the company’s 95 per cent interest in Rosebel Gold Mines to Zijin Mining Group.  

Consideration for the previously announced sale includes approximately $360 million in cash and the release of IAMGOLD’s equipment lease liabilities amounting to approximately $41 million.

The Government of Suriname will continue to hold the remaining 5 percent interest in Rosebel.

“On behalf of the company, we would like to thank the Rosebel team for their hard work and commitment,” said Maryse Bélanger, Chair of the Board and Interim President and CEO.

“With the completion of the sale of Rosebel, IAMGOLD has achieved an important milestone in the company’s strategy to create value for our stakeholders through disciplined portfolio management to fund the Côté Gold Project. Côté Gold today is over 70 per cent complete and remains on track for production in early 2024. This transaction, in addition to the previously announced sale of IAMGOLD’s West African gold assets and the financing agreement with Sumitomo, ensures the current remaining funding requirements for completion of construction at Côté have been met.”

IAMGOLD is a Canada-based gold producer operating mines in North America and West Africa.

IAMGOLD Corporation (IMG) opened trading at C$3.74.


More From The Market Online

Thomson Reuters expands its GenAI assistant

Thomson Reuters (TSX:TRI) has revealed the expanded vision for its professional-grade GenAI assistant, CoCounsel.

InZinc reports high-grade barite results from Indy project

InZinc Mining (TSXV:IZN) reports barite results from its 2022 diamond drilling at the Indy Project in British Columbia.
PyroGenesis - PyroGenesis' STP torch for refrigerant destruction, hydrocracking and heating.

PyroGenesis to help global mining leader lower emissions

PyroGenesis Canada (TSX:PYR) signs a contract with a global mining supplier to apply its electric plasma torches towards emissions reduction.

Canadian biotech stock investigates potential weight loss drugs

FSD Pharma Inc. (CSE:HUGE) is expanding its pipeline into metabolic and related disorders including weight loss and liver health.