Iamgold has agreed to acquire Northern Superior Resources through a court-approved plan under the Business Corporations Act of British Columbia.

Under the terms of the agreement, Iamgold will buy all outstanding shares of Northern Superior, consolidating significant land holdings in Quebec, Canada.

Northern Superior's shareholders will receive 0.0991 of an Iamgold share plus C$0.19 ($0.14) in cash for each share held, valuing the transaction at around C$267.4m.

This equates to a total value of C$2.05 per share, reflecting a 27.4% premium based on the 20-day volume-weighted average prices as of 17 October 2025.

In addition, Northern Superior shareholders will receive shares in ONGold Resources, currently held by Northern Superior.

Upon completion, Iamgold shareholders will own around 97% of the new entity, while Northern Superior shareholders will hold approximately 3%.

The acquisition includes Northern Superior's Philibert, Chevrier and Croteau deposits, which will be combined with Iamgold's Nelligan and Monster Lake projects to form the Nelligan Mining Complex.

This complex is set to be one of Canada's largest pre-production gold camps, with estimated measured and indicated mineral resources of 3.75 million ounces (moz) of gold and inferred mineral resources of 8.65moz.

Iamgold president and CEO Renaud Adams said: “The addition of Northern Superior's assets to Iamgold’s Nelligan Mining Complex in the Chibougamau region of Quebec is extremely exciting for Iamgold, the region and our mutual shareholders.

“This acquisition aligns with our strategy to become a leading Canadian-focused mid-tier gold producer, bolstering our organic pipeline in Quebec where we have maintained a long-standing presence.

“Further, the combined assets begin to define a conceptual project that complements both the scale and timing of our Côté Gold Mine and its forthcoming expansion.

“We look forward to accelerating our exploration programme in the region with a goal of further expansion and extension of the mineralisation at Nelligan, Philibert and Monster Lake – making the Nelligan Mining Complex already near the top undeveloped projects in mining-friendly Quebec and Canada.”

The transaction is set to expand Iamgold's land position in the Chibougamau district, adding 70,636 hectares of claims.

A central processing facility is envisioned to optimise resources within the 17km radius of the primary sites.

The transaction is expected to close by late 2025 or early 2026, subject to approval from Northern Superior shareholders, a court and relevant stock exchanges.

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National Bank Capital Markets, Laurentian Bank Securities and Norton Rose Fulbright Canada served as advisors for Iamgold on the transaction.

In a separate development, Iamgold has agreed to acquire Mines D'Or Orbec to enhance its holdings in Quebec's Chibougamau region.

Under the agreement, Orbec shareholders will receive C$0.125 per share, a 25% premium over the closing price on 17 October 2025.

Iamgold expects to issue approximately 369,341 shares, excluding its current holdings of Orbec shares.

Renaud Adams added: “The addition of the Muus Project provides a highly prospective land package to our rapidly expanding Nelligan Mining Complex Project.

“The Chibougamau region is quickly advancing to become one of the most exciting gold mining districts in Canada.

“We look forward to expanding our exploration programme in the region with a goal of further expansion and extension of the mineralisation at Nelligan and Monster Lake, while continuing the exploration efforts of the Orbec team.”

"Iamgold to acquire Quebec-based Northern Superior Resources " was originally created and published by Mining Technology, a GlobalData owned brand.

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