- Write by:
-
Thursday, December 31, 2020 - 12:57:34 PM
-
663 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
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Ghana Mine Workers Union is demanding the termination of the mining lease of Future Global Resources Ltd. because the ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
No comments have been posted yet ...