On August 10, 2026, IAMGOLD Corporation announced the completion of the sale of its indirect 35% interest in the Bambadji Joint Venture and its attributable interest in the Bambadji Sud exploration permit in Senegal to Fortuna Mining Corp. The transaction formed part of a US$200 million acquisition of the Bambadji Joint Venture assets from IAMGOLD and Barrick Mining Corporation and included a 0.5% net smelter return royalty, capped on the first 1.75 million ounces of gold produced from the Bambadji permit.
The transaction enabled IAMGOLD to monetize a non-core exploration asset while advancing its strategic objective of concentrating capital and resources on its existing operating mines and development projects. The cross-border nature of the transaction, together with the mining assets and royalty component, required careful coordination to achieve a successful outcome and support IAMGOLD’s long-term business priorities.
Fasken advised IAMGOLD Corporation with a team led by Alex Nikolic and included John Turner, Madelaine MacLean and Christopher Steeves.
Jurisdiction
- Ontario
