IAMGOLD closes sale of 35% Bambadji JV stake in Senegal to Fortuna for about $70 million cash
IAG•Sale of Bambadji joint venture stake closed
IAMGOLD closed the sale of its indirect 35% stake in Senegal’s Bambadji joint venture to Fortuna Mining.
The transaction generated about USD 70 million in cash proceeds, before transaction costs.
Deal terms include USD 200 million cash paid at closing for 100% of the JV interests held by IAMGOLD and Barrick.
Consideration also includes a 0.5% NSR royalty capped on the first 1.75 million ounces of gold from the Bambadji permit.
The divestiture monetizes a non-core exploration asset, sharpening focus on the operating and development portfolio.
