Agoracom: Small Cap Investment - IAMGOLD Corporation - UPDATE 1-Canada's Iamgold says sale process delayed for Mali mine amid unrest

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Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

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UPDATE 1-Canada's Iamgold says sale process delayed for Mali mine amid unrest

posted on Aug 20, 2020 10:46PM

2020-08-20 06:26:48 PM ET (Reuters)

(Adds spokeswoman comment, details)

Aug 20 (Reuters) - Canada's Iamgold Corp has delayed the sale process for its Sadiola gold mine in Mali because of political instability in the country, a spokeswoman said on Thursday.

Iamgold said in December it had reached a deal to sell its 41% interest in the mine, a joint venture with AngloGold Ashanti Ltd, to Allied Gold Corp.

Mali President Ibrahim Boubacar Keita resigned on Tuesday and dissolved parliament hours after soldiers detained him at gunpoint and seized power in a coup.

"We note that the only outstanding matter is the signature of the prevailing government authorities," Iamgold spokeswoman Indi Gopinathan said in an email. She did not provide an estimate on closing.

The government of Mali owns an 18% interest in the mine.

Africa's fourth-biggest producer of gold, Mali's output rose to 71.1 tonnes in 2019 from 66.8 tonnes the previous year, the government has said. (Reporting by Jeff Lewis; Editing by Chris Reese and Peter Cooney)

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