IAMGOLD Corporation of Canada announced on Tuesday that it has entered into a definitive agreement to sell its 95 per cent stake in the Rosebel mines in Suriname to Zijin Mining Group Company Limited of China.
In a statement, IAMGOLD, which also operates mines in Burkina Faso and Canada, said sale is for a cash consideration of US$360 million and includes the release of IAMGOLD’s equipment lease liabilities in Rosebel Gold Mines NV amounting to approximately US$41 million.
Rosebel Gold Mines NV holds 100 per cent interest in the Rosebel gold mine and a 70 per cent participating interest in the Saramacca mine, both located in Suriname. The remaining five per cent interest in Rosebel will continue to be held by the government of Suriname.
“Under the terms of the agreement, IAMGOLD will receive cash consideration of US$360 million for its 95 per cent interest in Rosebel, subject to certain working capital adjustments on closing.
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