Sumitomo Metal Mining $195 million acquisition of 30% of Côté Gold Project

Overview:

• Sumitomo Metal Mining has acquired 30% of Côté Gold Project from IAMGOLD Corporation for $195 million.
• IAMGOLD and Sumitomo have entered into a joint venture for Côté Gold Project - IAMGOLD holds 70% of the total participating interests in the joint venture.
• Sumitomo is a $7.3 billion Japanese mining company.
• IAMGOLD has four operational gold mines across three continents.
• RCI Capital Group has acted as financial adviser to IAMGOLD.
• The deal will lead to an annual boost of gold output from 16 to 18 tonnes.

Katrin Kostadinova - Data analyst