- Write by:
-
Thursday, December 31, 2020 - 12:57:34 PM
-
707 Visit
-
Print
Mining News Pro - IAMGOLD and joint venture partner AngloGold Ashanti announced Wednesday that they completed the sale of their collective interests in Société d’Exploitation des Mines d’Or de Sadiola S.A. to Allied Gold Corp.
SEMOS’ principal asset is the Sadiola gold mine, in the Kayes region of Western Mali. Sadiola, one of the three assets AngloGold Ashanti put on the chopping block this year and IAMGOLD’s founding asset, is also owned by Mali’s government, which has an 18% interest.
The $150 million deal was first announced in December 2019 but delayed in August over a coup, which was Mali’s second in less than ten years.
The coup capped weeks of protests demanding that Malian President Ibrahim Boubacar Keita step down. Keita faced opposition criticism for alleged corruption and nepotism within his administration, and the mishandling of an escalating Islamist insurgency in the West African nation.
B2Gold, Resolute Mining, AngloGold Ashanti, Hummingbird Resources, Roscan and Cora Gold said operations and staff were unaffected, but traders sold shares because of increased political risk.
Immediately prior to the transaction, the companies said, a dividend of $20 million was declared and paid by SEMOS pro-rata to its shareholders. IAMGOLD and AngloGold Ashanti each received a cash dividend of $8.2 million and the Republic of Mali received a cash dividend of $3.6 million.
“We are pleased to complete this transaction, which underpins our commitment and focus on a prudent capital allocation strategy as we embark on a transformational path with the execution on our growth pipeline,” IAMGOLD CEO Gordon Stothart said in a press release.
“The Sadiola mine was the founding cornerstone asset and building block of our company, and we would like to recognize the Sadiola team, surrounding communities and all stakeholders for their valued support over more than twenty years.”
Short Link:
https://www.miningnews.ir/En/News/609887
![Zimbabwe may sell 40% stake in a key gold mine to raise capital](/Incsys/Photo.aspx?image=/Uploads/News/20240723142307013.jpg&width=236&height=180)
Zimbabwe’s state-owned Kuvimba Mining House is broadening its search for equity partners and financiers for its gold and ...
![Zijin Mining to take 9.9% stake in Montage Gold](/Incsys/Photo.aspx?image=/Uploads/News/20240723133352629.jpeg&width=236&height=180)
Canadian miner Montage Gold on Tuesday said Chinese mining firm Zijin Mining Group would take a 9.9% strategic stake in ...
![Barrick’s quarterly gold and copper output edges higher](/Incsys/Photo.aspx?image=/Uploads/News/20240723132357352.jpeg&width=236&height=180)
Canadian miner Barrick Gold’s second-quarter gold output edged up by almost 0.9% from the previous three months, helped ...
![Uganda is latest African nation eying gold as currency shield](/Incsys/Photo.aspx?image=/Uploads/News/20240721171313065.jpeg&width=236&height=180)
Uganda plans domestic gold purchases to build foreign exchange reserves and limit risks on reserve investments, becoming ...
![Mexico mining investment seen stable at $5 billion in 2024](/Incsys/Photo.aspx?image=/Uploads/News/20240721154501909.jpeg&width=236&height=180)
Mining investment in Mexico should remain largely stable in 2024 compared to last year at around $5 billion but new ...
![IRH mining dealmaker met with Congo gold smugglers, UN says](/Incsys/Photo.aspx?image=/Uploads/News/20240721154015640.jpeg&width=236&height=180)
A businessman who has been leading a push into mining by Abu Dhabi’s largest listed company has been cited for having ...
![Global gold ETFs saw second month of inflows in June, says WGC](/Incsys/Photo.aspx?image=/Uploads/News/20240719185723536.jpg&width=236&height=180)
Global physically backed gold exchange traded funds (ETFs) saw the second consecutive month of inflows in June due to ...
![Conflict in Congo threatens trade in key metals, UN experts say](/Incsys/Photo.aspx?image=/Uploads/News/20240719185451534.jpg&width=236&height=180)
Companies buying metal sourced from central Africa could be exposing themselves to United Nations sanctions for ...
![Canada’s move to protect mining sector shields takeover targets](/Incsys/Photo.aspx?image=/Uploads/News/20240716150153105.jpeg&width=236&height=180)
Canada is making it harder for foreign firms to acquire domestic mining companies by imposing measures that could ...
No comments have been posted yet ...