Iamgold to sell forward 15%-20% of gold production to strengthen its finances

Iamgold to sell forward 15%-20% of gold production to strengthen its finances

Mainly involved in mines and associated projects in Burkina Faso, Senegal, Guinea and Mali, the Canadian group has already managed to sell 12% of its worldwide production planned for 2021. It is also finalising the sale of mining assets in Mali.

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            ▪ Iamgold to sell forward 15%-20% of gold production to strengthen its finances

▪ Mainly involved in mines and associated projects in Burkina Faso, Senegal, Guinea and Mali, the Canadian group has already managed to sell 12% of its worldwide production planned for 2021. It is also finalising the sale of mining assets in Mali.

https://www.africabusinessplus.com/en/806019/iamgold-to-sell-forward-15-20-of-gold-production-to-strengthen-its-finances/

Gold producer Iamgold, whose main operating asset is located in Burkina Faso (Essakane), has already hedged 114,000 ounces of gold for 2021, representing 12% of its expected world production, at strike prices between $1,800 and $3,000 per ounce. This was done in order to benefit from the high price of the precious metal, which has jumped by 30% year-on-year and currently stands at around $1,953 per ounce.

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