IAMGOLD (IAG) Completes Two Acquisitions

IAMGOLD Corporation (NYSE:IAG) is one of the 13 Best Gold Mining Companies to Invest In Now. On December 22, IAMGOLD Corporation (NYSE:IAG) announced that it has acquired all of the issued and outstanding common shares of Mines D’Or Orbec Inc. This acquisition adds the highly prospective Muus Project, which sits next to IAMGOLD Corporation’s (NYSE:IAG) Nelligan and Monster Lake Projects in the Chibougamau region of Quebec, Canada.

Previously, on December 19, IAMGOLD Corporation (NYSE:IAG) reported that it had completed its plan of arrangement to acquire all of the issued and outstanding common shares of Northern Superior Resources Inc. As a result of this transaction, Northern Superior became a wholly-owned subsidiary of the company.

This deal adds Northern Superior’s significant land package and key deposits, including Philibert, Chevrier and Croteau, to IAMGOLD Corporation’s (NYSE:IAG) Nelligan and Monster Lake Projects. Together, these assets form the combined “Nelligan Mining Complex,” which is one of the largest pre-production gold camps in Canada, with Measured and Indicated Mineral Resources of 3.75 million ounces of gold and Inferred Mineral Resources of 8.65 million ounces.

The primary deposits are located close to each other. IAMGOLD Corporation (NYSE:IAG) believes this supports a plan for a central processing facility that would be fed by multiple ore sources within a 17-kilometre radius.

IAMGOLD Corporation (NYSE:IAG) is a Canadian intermediate gold producer and developer with operations in North America and West Africa.

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Disclosure: None. This article is originally published at Insider Monkey.