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.
08/11/2020 at 12h07, by Africa Business+
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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