IAMGOLD Closes Sale of Rosebel Gold Mines to Zijin Mining

SEATTLE (Scrap Monster): IAMGOLD Corporation has closed the previously announced sale of the company’s 95% interest in Rosebel Gold Mines to Zijin Mining Group.

This has been done for a cash consideration of approximately $360 million and release of IAMGOLD’s equipment lease liabilities amounting to approximately $41 million.

The remaining 5% interest in Rosebel will continue to be held by the Government of Suriname.

 “On behalf of the company, we would like to thank the Rosebel team for their hard work and commitment,” said Maryse Belanger, 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 Cote gold project.

“Cote gold is over 70% 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 Cote have been met.”

 Courtesy: www.miningreview.com