IAMGOLD Corporation announced on August 10, 2026 that it had completed the sale of its indirect 35 percent interest in the Bambadji Joint Venture and its attributable interest in the Bambadji Sud exploration permit in Senegal to Fortuna Mining Corp.. The sale formed part of Fortuna Mining Corp.’s acquisition of the Bambadji advanced gold exploration project from certain subsidiaries of Barrick Mining Corporation and IAMGOLD Corporation. The assets are located in the Kédougou region of southeastern Senegal, approximately 850 kilometres southeast of Dakar, and are contiguous with the eastern margin of Fortuna Mining Corp.’s feasibility-stage Diamba Sud Gold Project. 

Under the transaction terms, Fortuna Mining Corp. paid US$200 million in cash from treasury, consisting of US$130.35 million to a subsidiary of Barrick Mining Corporation and US$69.65 million to a subsidiary of IAMGOLD Corporation. In addition, the sellers received a 0.5 percent net smelter return royalty on the first 1.75 million ounces of gold produced from the Bambadji Nord property, split 0.325 percent to a subsidiary of Barrick Mining Corporation and 0.175 percent to a subsidiary of IAMGOLD Corporation. IAMGOLD Corporation stated that its proceeds were approximately US$70 million before taxes and transaction costs and that the divestiture monetized a non-core exploration asset. Fasken Martineau DuMoulin LLP acted as legal counsel to IAMGOLD Corporation.