IAMGOLD Receives US$49 Million Cash From La Arena Option

- February 9th, 2011

IAMGOLD Corporation (TSE:IMG) today announced that Rio Alto Mining Limited has exercised its option to acquire 100% of IAMGOLD’s Peruvian copper/gold project for US$49 million cash.

IAMGOLD Corporation (TSX:IMG) today announced that Rio Alto Mining Limited  has exercised its option to acquire 100% of IAMGOLD’s Peruvian copper/gold project for US$49 million cash.

The press release is quoted as saying:

Steve Letwin, President and CEO of IAMGOLD, said, “We are very pleased with the quality of the work that Rio Alto has completed at La Arena during the earn-in period. They have made excellent progress in advancing the project towards a production startup later this year and IAMGOLD is pleased to have participated in their success.”

Click here to access the entire press release.

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