Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Moroccan mining company Managem said on Tuesday it bought the assets of Canada’s Iamgold assets in Senegal, Mali and Guinea, known as Bamouk, for a total cost of $282 million.
The total resource portfolio of the Bamouk assets exceeds 5 million ounces of gold, Managem said in a statement.
Casablanca-listed Managem, which operates in six African countries, is controlled by the royal family holding company Al Mada.
Managem reported a revenue of 7.376 billion dirhams ($700 million) in the first nine months this year, up 45%, on the back of higher precious and base metal prices.
(By Ahmed Eljechtimi; Editing by Louise Heavens)
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