Zijin Mining completed the acquisition of a 95% stake in Rosebel Gold Mines from IAMGOLD for $360m.

Zijin Mining, a firm engaged in the exploration and development of gold and copper and other metal mineral resources, completed the acquisition of a 95% stake in Rosebel Gold Mines, a gold mine in South America, from IAMGOLD, a gold mining company operating in three regions globally North America, South America and West Africa, for $360m. The project owns two major mining concessions - a 100% interest in the Rosebel Gold Mine and a 70% participating interest in the Saramacca Gold Mine, as well as nine exploration rights covering an area of around 788 sq km. Site survey and investigation indicate that the Rosebel property contains 7 deposits and several satellites, each having a strike length of around 1.2 to 3.3 km and width of 100 to 900 meters. The mineralized trend remains open on strike and at depth, with great potential to add further gold resources.