Zijin Mining Group Co. acquires majority equity interest and all debts in Rosebel Gold Mines N.V. and also completed equipment buy out
January 31, 2023
400.00 Million USD
On January 31, 2023, Zijin Mining Group Co. ("Zijin Mining") completed its acquisition from IAMGOLD Corporation of 95% interest in Rosebel Gold Mines N.V., together with certain other interests in and to the Rosebel Gold Mine and the Saramacca Mine, each located in Suriname. Zijin Mining acquired the mines for a cash consideration of approximately $360 million and release of IAMGOLD's equipment lease liabilities amounting to approximately $41 million. The remaining 5% interest in Rosebel will continue to be held by the Government of Suriname.
Zijin Mining Group Co., based in Longyan, China, is a large multinational mining group engaged in the global exploration and development of copper, gold, zinc and lithium, as well as engineering and technological research.
IAMGOLD, based in Toronto, Ontario, is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa.
McCarthy Tètrault advised Zijin Mining with a team led by Joyce lee that included Shea Small, Patrick Deutscher, Haiya Peng, Kyle Riddell, Jordan Chu and Josh Friedman (Business), Christopher Langdon (Financial Services), Kate McNeece and Jason Gudofsky (Competition), Jasmin Ethier and Ben Aberant (Employment), and Bonnie Campbell, Michele Ma and Isabel Gonzales (Corporate).