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Iamgold-Sumitomo JV will develop Ontario gold project
lamgold and Sumitomo Metal Mining have agreed to form a joint venture to develop lamgold's Cote gold project approximately 200 kilometers (km) northwest of Sudbury, Ontario. Sumitomo will pay an aggregate of $195 million for a 30% undivided participating interest in lamgold's 92.5% ownership interest in the project. Cote is one of Canada's largest undeveloped gold deposits, with proven and probable reserves totaling 5.9 million ounces (oz) in 196 million metric tons (mt) grading 0.94 grams/mt of gold.
Iamgold-Sumitomo JV will develop Ontario gold project
lamgold and Sumitomo Metal Mining have agreed to form a joint venture to develop lamgold's Cote gold project approximately 200 kilometers (km) northwest of Sudbury, Ontario. Sumitomo will pay an aggregate of $195 million for a 30% undivided participating interest in lamgold's 92.5% ownership interest in the project. Cote is one of Canada's largest undeveloped gold deposits, with proven and probable reserves totaling 5.9 million ounces (oz) in 196 million metric tons (mt) grading 0.94 grams/mt of gold.
Iamgold-Sumitomo JV will develop Ontario gold project
2017
Article (Journal)
English
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