M&A
Midtier gold miner Iamgold has completed the sale of its Quebec-based Niobec mine to a group of companies led by Magris Resources, significantly shoring-up its coffers as the company looks toward further investments. On closing, Iamgold received $500-million in cash after tax for the niobium business. When combined with the company's current cash, cash equivalents and gold bullion (at market), the balance increased to about $800-million, exceeding the value of the company's $650-million unsecured notes due in October 2020.
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