IAMGOLD Corporation has finalized the sale of its Karita Gold Project in Guinea to Managem, a Moroccan mining company, as part of an ongoing effort to streamline its portfolio and refocus on core assets.
The sale is part of a broader $282 million deal that includes the divestment of other exploration assets across West Africa, including projects in Senegal and Mali. The transaction aligns with IAMGOLD’s strategy to reduce its exposure to higher-risk jurisdictions and reinvest in lower-risk, high-potential assets in North America.
The Karita Gold Project, located in Guinea’s mineral-rich Siguiri Basin, was initially acquired by IAMGOLD in 2019 through grassroots exploration. The region is known for its untapped gold potential, with several large-scale projects already in operation, including AngloGold Ashanti’s Siguiri Mine. 
The sale to Managem reflects growing regional interest from North African mining companies seeking to expand their footprint in sub-Saharan Africa. Managem, backed by the Moroccan government’s holding company Al Mada, has been actively acquiring gold assets across the continent, aiming to diversify beyond its traditional focus on base metals and precious metals processing.
IAMGOLD’s exit from Guinea follows similar moves in Senegal, where it sold its interest in the Boto Gold Project to Endeavour Mining in 2021. The company now has only one remaining West African asset on the market—the Diakha-Siribaya Gold Project in Mali, which is expected to close soon.
