The Managem Group, a pan-African mining group that has been developing and operating a diversified portfolio of gold and energy transition metals for over 90 years, has reached an agreement to acquire strategic assets in Senegal, Mali and Guinea. According to a Managem press release, the group has acquired 90% of the assets of the Boto gold project in Senegal, 100% of Diakha-Siribaya in Mali, Boto Ouest, Daorala and Senala Ouest in Senegal, and Karita in Guinea, as well as IAMGOLD’s shares in the Senala joint venture in Senegal.
This transaction is subject to the approval of the mining authorities in the countries concerned.
The price of these assets, referred to as the “Bambouk Assets”, is valued at approximately US$280 million, including a deferred payment of US$30 million which will, in principle, be paid within a maximum of 6 months after the final completion of the transaction.
On this occasion, the Chairman and CEO of Managem, Imad Toumi, welcomed the conclusion of the agreement, stating that “this transaction will enrich the group’s already solid portfolio of assets, and will reinforce its role as a regional leader in the gold business in Africa, recalling that the good relations between Morocco, Senegal, Mali and Guinea and the good dynamics of South-South collaboration, is favourable to the success of this project.