DivestmentAug 11, 2026, 10:51 AM
IAMGOLD Divests Bambadji JV Interest for $70M Cash
AI Summary
IAMGOLD Corp has divested its 35% interest in the Bambadji Joint Venture, generating approximately $70 million in cash proceeds before taxes and transaction costs. This strategic move monetizes a non-core exploration asset, allowing IAMGOLD to focus on its existing operating and development portfolio. The company will also retain its proportionate share of a 0.5% net smelter return royalty from the Bambadji permit.
Key Highlights
- IAMGOLD divested its 35% interest in the Bambadji Joint Venture.
- The transaction generated approximately $70 million in cash proceeds for IAMGOLD.
- The divestment monetizes a non-core exploration asset.
- Total consideration for the 100% JV was $200 million in cash.
- IAMGOLD retains its proportionate share of a 0.5% net smelter return royalty.
- The joint venture was originally with Barrick Mining Corporation (65%).
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