Iamgold Corp said on Friday it has agreed to sell its niobium mine in Quebec to a group of companies led by investment firm Magris Resources Inc for $500 million in cash, to focus on its core gold mining business.The long-planned sale of the Niobec mine, located some 200-km north of Quebec City, includes an adjacent rare earth metals deposit.The deal is one of a handful of private equity investments in the mining sector, and indicates that these firms are still keen on finding bargains in an industry that has been battered by a broad slide in metal prices.Toronto-based Magris Resources, led by former Barrick Gold Corp's chief executive Aaron Regent, is one of a few private equity-backed firms scouting for deals in the sector.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX remained unchanged at $14.70. In the past year, the shares have traded as low as $14.48 and as high as $21.45. On average, 9365450 shares of ABX exchange hands on a given day and today's volume is recorded at 12465.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 0.42% or $-0.07/share to $16.43. In the past year, the shares have traded as low as $16.15 and as high as $23.78. On average, 2079450 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 2974852.
IAMGOLD Corporation (IAMGOLD) is a mining company. Shares of IAG remained unchanged at $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 34000.
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