Key Points
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IAMGOLD acquired Northern Superior, expanding its Nelligan Mining Complex in Quebec.
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Shareholders received IAMGOLD stock and cash as part of the deal.
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The acquisition strengthens IAMGOLD’s exploration pipeline and future gold production potential.
IAMGOLD has completed its acquisition of Northern Superior Resources, significantly increasing the scale of its Nelligan Mining Complex in Quebec and positioning it as one of Canada’s largest pre-production gold projects.
The deal, announced on December 19, 2025, involved IAMGOLD acquiring all issued and outstanding shares of Northern Superior through a court-approved plan of arrangement under British Columbia law. Northern Superior now operates as a wholly owned subsidiary of IAMGOLD.
Nelligan project set for growth
Renaud Adams, IAMGOLD’s president and chief executive officer, said the acquisition strengthens the company’s position in the Chibougamau-Chapais region.
“With Northern Superior and its assets, the Nelligan Mining Complex ranks among the largest pre-production gold projects in Canada,” Adams said.
He added that IAMGOLD plans to accelerate exploration across Nelligan, Philibert, and Monster Lake, aiming to expand mineralization and align the project with the timing and scale of the Côté Gold Mine and its upcoming expansion.
Shareholder terms and delisting
Under the terms of the acquisition, former Northern Superior shareholders received 0.0991 of an IAMGOLD common share plus C$0.19 in cash for each Northern Superior share held before the transaction.
Shareholders also received a concurrent distribution of ONGold Resources shares previously held by Northern Superior.
Following the transaction, Northern Superior’s shares were delisted from the TSX Venture Exchange. The company will also cease being a reporting issuer in Ontario, British Columbia, Alberta, and Quebec.
Strategic impact for IAMGOLD
The acquisition enhances IAMGOLD’s exploration pipeline in Quebec, providing additional scale and optionality alongside the company’s flagship Côté Gold Mine. The move positions IAMGOLD to expand future production and increase its footprint in a region known for high-quality gold deposits.
The company said it will continue developing exploration programs to extend mineralization, improve project economics, and deliver growth for investors while advancing its portfolio of gold assets in Canada.
