IAMGOLD, Suriname Come To Terms With Expansion Of Mine
Wednesday, December 21, 2011 11:18 AMIAMGOLD Corp. (TSX:IMG)(NYSE:IAG) has entered into a "heads of agreement" with the government of the Republic of Suriname regarding expansion of the company’s Rosebel Gold Mine. Key principal elements for a definitive agreement were established and they will ultimately be supportive of a significant capacity expansion of the Rosebel Mine, the company says. "Reaching an initial agreement on the terms and conditions necessary for the expansion of Rosebel is a pivotal moment for us,” says Steve Letwin, president and chief executive officer. “The next steps are to work expeditiously towards the conclusion of a definitive agreement and to complete a feasibility study.” The Rosebel Mine produced 395,000 ounces of gold in 2010. The government of Suriname holds a 5% interest in the mine. IAMGOLD is a mid-tier gold mining company that produces roughly one million ounces of gold from the company’s five producing mines spread out around the globe.
By Alex Létourneau of Kitco News; aletourneau@kitco.com
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