Morocco's Managem acquires Canada’s Iamgold assets in Senegal, Mali and Guinea

Iamgold

20/12/2022 14:39

RABAT, Dec 20 (Reuters) - Moroccan mining company
Managem  MNG.CS  said on Tuesday it bought the assets of
Canada's Iamgold  IMG.TO  assets in Senegal, Mali and Guinea,
known as Bamouk, for a total cost of $282 million. 
    The total resource portfolio of the Bamouk assets exceeds 5
million ounces of gold, Managem said in a statement. 
    Casablanca-listed Managem, which operates in six African
countries, is controlled by the royal family holding company Al
Mada.
   Managem reported a revenue of 7.376 billion dirhams ($ 700
mln) in the first nine months this year, up 45%, on the back of
higher precious and base metal prices. 
 (Reporting by Ahmed Eljechtimi, Editing by Louise Heavens)
 ((ahmed.eljechtimi@thomsonreuters.com;))