Morocco's Managem acquires Canada’s Iamgold assets in Senegal, Mali and Guinea

RABAT, Dec 20 (Reuters) - Moroccan mining company Managem said on Tuesday it bought the assets of Canada's Iamgold assets in Senegal, Mali and Guinea, known as Bamouk, for a total cost of $282 million.

The total resource portfolio of the Bamouk assets exceeds 5 million ounces of gold, Managem said in a statement.

Casablanca-listed Managem, which operates in six African countries, is controlled by the royal family holding company Al Mada. Managem reported a revenue of 7.376 billion dirhams ($ 700 mln) in the first nine months this year, up 45%, on the back of higher precious and base metal prices. (Reporting by Ahmed Eljechtimi, Editing by Louise Heavens)