(Kitco News) - IAMGOLD (TSX: IMG) announced today that it has closed the sale of its 95% interest in Rosebel Gold Mines N.V. to Zijin Mining for cash consideration of approximately $360 million and release of IAMGOLD's equipment lease liabilities amounting to approximately $41 million.
The company said that Rosebel Gold Mines N.V. holds a 100% interest in the Rosebel gold mine and a 70% participating interest in the Saramacca mine, located in Suriname, adding that the remaining 5% interest in Rosebel Gold Mines N.V. will continue to be held by the Government of Suriname.
The Rosebel gold mine is located in the mineral rich Brokopondo district in north eastern Suriname. The Rosebel gold mine began commercial production in 2004. The company’s 2022 attributable gold production from Rosebel was 214,000 ounces (253,000 ounces on a 100% basis), above the upper end of the updated guidance range of 175,000 to 200,000 ounces.
"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 Côté have been met," the company said.
IAMGOLD is a mid-tier gold mining company operating in North America, South America and West Africa. The company has three operating mines: Essakane (Burkina Faso), Rosebel (Suriname) and Westwood (Canada), and is building the large-scale, long life Côté Gold project (Canada) which is expected to commence production in early 2024.
China’s Zijin Mining is a multinational mining group focused on exploration and development of gold, copper and other mineral resources globally. The company owns significant mining investment projects in 12 overseas countries and 14 provinces (regions) in China.
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