The Moroccan mining group Managem has just announced that it has concluded, on Monday, December 19, 2022, an agreement with the Canadian mining company IAMGOLD. It concerns the acquisition of its 90% stake in the company holding the Boto gold project (Senegal), all the assets of Diakha-Siribaya (Mali), Boto Ouest, Daorala and Senala Ouest (Senegal) and Karita ( Guinea), as well as IAMGOLD’s shares in the Senala joint venture (Senegal). All assets acquired in connection with this transaction being collectively referred to as the “Bambouka assets”. As for the remaining stake, which is 10%, it will continue to be held by the Senegalese state. “This transaction will add to our already strong portfolio of assets, strengthen our role as a regional leader in the gold business in Africa and consolidate our position as a top-performer within the African mining industry,” assured Imad Toumi, CEO of Managem.
According to top management, this transaction involves an approximate total amount of US$280 million, ie the value of the shares and current account receivables sold. It includes a deferred payment of 30 million US dollars which will, in principle, be paid within a maximum period of 6 months after the final completion of the transaction. Note that said assets cover a total of more than 155 tons of gold. In detail, Managem indicates that this acquisition, made from the Canadian mining company IAMGOLD Corporation, concerns no less than three contiguous deposits and significant growth potential in the three neighboring African countries, all located in the very prolific geological fault Senegalo- Malian Shear Zone (SMSZ). And this, with a short-term production potential of the Boto gold project, whose reserve is 1.6 million ounces of gold (50 tons), and a total of resources of the “Bambouk assets” exceeding 5 million ounces of gold (155 tons).
Following this transaction, Maryse Bélanger, Chairman of the Board of Directors and Interim President and Chief Executive Officer of IAMGOLD, did not fail to point out that the Canadian company is counting, more than ever, on the Moroccan mining group, to “promote these assets responsibly, for the benefit of all stakeholders”.