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Friday, October 3, 2014

Gold miner Iamgold to sell Niobec rare earths mine for $500 mln, (NYSE: IAG)

Iamgold Corp said it would sell its Niobec rare earths mine in Quebec to a group of companies led by Magris Resources Inc for $500 million in cash, to focus on its core gold mining business. The sale of Niobec, located in the Saguenay-Lac-Saint-Jean region in Quebec, includes an adjacent rare earths deposit.

IAMGOLD Corporation (IAMGOLD) is a mining company. Shares of IAG fell by 0.73% or $-0.02/share to $2.73. In the past year, the shares have traded as low as $2.63 and as high as $5.59. On average, 6513050 shares of IAG exchange hands on a given day and today's volume is recorded at 7962102.