Iamgold completes Côté stake sale

Canadian gold miner Iamgold has completed the sale of a 30% interest in the Côté gold project, in Ontario, to a subsidiary of Sumitomo Metal Mining for $195-million. Iamgold, which still owns the remaining 70% interest in the project, has received $100-million in cash and the balance is payable on the earlier of 18 months following closing, or the date of public filing of a feasibility study with respect to the project.