Iamgold selling stake in Rosebel Gold Mines to Chinese company for US$360-million in cash

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Under the terms of the agreement, Iamgold will also be released from about US$41-million in obligations for certain equipment leases

Rosebel owns the Rosebel gold mine in Suriname and a 70 per cent participating interest in the Saramacca Mine, also located in the South American country.Iamgold says the proceeds of the sale will be invested in the ongoing construction of its Cote Gold project in Ontario.

The transaction, which is expected to close in the first quarter of 2023 or earlier, is subject to certain regulatory approvals as well as other customary closing conditions.Your Globe

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