IAMGOLD Plans $525 Million Buyback of Half of Franco-Nevada’s Côté Gold Royalty

IAMGOLD plans to spend about $525 million to repurchase half of Franco-Nevada’s royalty on Côté Gold, a deal it expects to cut cash costs by about $150 per ounce beginning in 2027.

The repurchase is expected to lower the effective royalty rate from 7.5% to 2.14%. IAMGOLD expects to fund the purchase with cash on its balance sheet and may make a short-term draw on its credit facility if needed.

IAMGOLD had about $1.6 billion in liquidity. The company continued share repurchases and maintained its 2026 capital expenditure guidance at $500 million, plus or minus 5%.