IAMGOLD will transfer an approximate 10% interest in Côté to SMM and will pay a repurchase option fee to SMM and shall have the right to exercise the repurchase option between November 30, 2023 and November 30, 2026, to return to its full 70% interest in the Côté gold project.
IAMGOLD will remain the operator of the Côté gold project.
“The financial support of Sumitomo demonstrates to all of our stakeholders the strong validation of the Côté Gold Project from our partner and our alignment to complete construction and commence production,” Maryse Bélanger, interim CEO of IAMGOLD said in a news release.
“On behalf of the Board and IAMGOLD, I want to thank Sumitomo for their continued support and dedication as together we continue to build what will be Canada’s third largest gold mine by production.”
“The Côté Gold project remains on track for gold production in early 2024, in line with the updated schedule and…
