IAMGOLD Corporation has completed 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 generated approximately $70 million in cash proceeds for IAMGOLD, before taxes and transaction costs, monetizing a non-core exploration asset to support the company's focus on its operating and development portfolio.

The Bambadji Joint Venture controls exploration permits in the Kédougou region of southeastern Senegal, approximately 850 kilometres southeast of Dakar along the border with Mali. Total consideration payable by Fortuna to the joint venture partners—Barrick Mining Corporation, which holds the remaining 65%, and IAMGOLD—includes $200 million in cash payable on closing and a 0.5% net smelter return royalty capped on the first 1.75 million ounces of gold produced from the Bambadji permit. IAMGOLD retains its proportionate share of the royalty alongside its cash proceeds.

IAMGOLD operates as an intermediate gold producer and developer based in Canada, with operating mines that include Côté Gold, Westwood, and Essakane. The divestiture proceeds enter the business amid robust macroeconomic conditions for precious metals, with gold trading at $4,394.40 per ounce, representing a 6.68% increase over the 30-day period ended August 11, 2026.

Read the full announcement: IAMGOLD Announces Closing of Sale of Its Interest in the Bambadji Joint Venture in Senegal