IAMGOLD Announces Closing of Previously Announced Sale of Exploration and Development Assets in Guinea
Rhea-AI Summary
IAMGOLD (TSX: IMG) (NYSE: IAG) has announced the completion of its Guinea Assets sale, including the Karita Gold Project. This transaction is part of a larger deal announced in December 2022 with Managem to divest exploration and development projects across Senegal, Guinea, and Mali for approximately $282 million (pre-tax). Following the April 2023 closure of the Senegal assets sale, which included the 90% stake in Boto Gold Project, the only remaining transaction pending is the sale of the Diakha-Siribaya Gold Project in Mali.
Positive
- Part of a larger $282 million asset sale strategy
- Successfully completed second phase of three-part divestment plan
Negative
- Reduction in exploration and development portfolio
- Decreased geographic diversification
News Market Reaction – IAG
In the trading session that priced this news, IAG declined 0.58%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
Toronto, Ontario--(Newsfile Corp. - December 23, 2024) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) ("IAMGOLD" or the "Company") is pleased to announce that it has closed the sale of its
The sale of the Guinea Assets is part of the previously announced transactions, as announced on December 20, 2022, with Managem (CAS:MNG) to sell the Company's interests in its exploration and development projects in Senegal, Guinea and Mali for aggregate consideration of approximately
About IAMGOLD
IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa. The Company has commenced production at the large-scale, long life Côté Gold Mine in partnership with Sumitomo Metal Mining Co. Ltd., which is expected to be among the largest gold mines in Canada. In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts. IAMGOLD employs approximately 3,600 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance practices, including its commitment to Zero Harm®, in every aspect of its business. IAMGOLD is listed on the New York Stock Exchange (NYSE:IAG) and the Toronto Stock Exchange (TSX: IMG).
IAMGOLD Contact Information
Graeme Jennings, Vice President, Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883
Toll-free: 1 888 464 9999
info@iamgold.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234976