Canadian miner Iamgold (TSX: IMG; NYSE: IAG) announced a pair of acquisitions that would more than triple its footprint in northern Quebec’s Chibougamau region.
Iamgold agreed to buy Northern Superior Resources (TSXV: SUP) for C$2.05 in cash and stock per Northern Superior share in a transaction valued at about C$267.4 million, according to a statement issued Monday. The Toronto-based company also said it’s reached a C$17.2 million deal to acquire Mines D’Or Orbec (TSXV: BLUE) for C$0.125 a share.
Both transactions would consolidate land ownership around Iamgold’s Nelligan and Monster Lake projects, which together hold 3.21 million indicated oz. gold and 5.65 million inferred ounces. The two properties sit close to Northern Superior’s Philibert, Chevrier and Croteau deposits, which Iamgold said “supports the conceptual vision” of a central processing facility being fed by multiple mining…
