Iamgold to sell Quebec niobium mine to Magris-led group in US$530-million deal

Posted on October 3, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

TORONTO – Iamgold Corp. (TSX:IMG) will sell its Niobec mine in Quebec for about US$500 million to a group led by Aaron Regent, a veteran mining executive who has previously been CEO of two major Canadian companies — Barrick Gold (TSX:ABX) and Falconbridge, a copper and nickel producer that was later sold to Xtrata.

Regent now heads Magris Resources, a Toronto-based company that has partnered on the Niobec deal with Hong Kong-based CEF Holdings Ltd (CEF) and Temasek, a Singapore-based investment manager.