IAMGOLD Corporation Mining News

Fatality at Essakane

The incident occurred at the end of the night shift and during the operation of the contractor haul truck on site.

IAMGOLD announces $170m gold prepay arrangement

The prepaid gold arrangement is supported by a syndicate of banks.

Can Mali maintain its gold mining status?

The fate of IAMGOLD's Sadiola mine hangs in the balance as Mali's gold exports fall and production winds down.

New mining code in Burkina Faso should not affect current operations — Iamgold

The code, which is yet to be formalized into law, respects clauses in existing deals, said the miner.

Iamgold trims 2015 output forecast over earthquake disruption at Quebec mine

The Canadian miner said it expects the lower output to "adversely" impact costs at the mine.

Smaller is better when it comes to gold miners

If you are interested in exposing yourself to gold, look to add these three stocks to your portfolio.

IAMGOLD craters 19% after reducing guidance, nears 52-week low

IAMGOLD share price dip continues

Trelawney vaults 41% as IAMGOLD gets more Canada-focused

IAMGOLD will pay about C$585 million in cash to acquire Canadian junior Trelawney Mining, the mid-tier gold producer announced on Friday.

Need a mining job? Head to Ecuador

Ecuador needs at least 300 mining engineers and geologists in the near future to be able to deliver on its recent mining contracts, but only about 40 such professionals graduate annually from six universities that offer those programs, according to the agency that regulates Ecuador’s mining industry.

IAMGOLD declares rare earth inferred resource of 467 million tonnes at a grade of 1.65% TREO

IAMGOLD Corporation ("IAMGOLD" or the "Company") today announced that it has declared an inferred resource of 466.8 million tonnes at a grade of 1.65% Total Rare Earth Oxides ("TREO") as a result of its 2011 exploration drilling program conducted on the rare earth elements ("REE") zone adjacent to its Niobec niobium mine near Saguenay, Quebec, Canada.

Iamgold quarterly gold production drops 20%

Iamgold (TSE:IMG) stock was down Monday despite announcing strong fourth-quarter production results.

IAMGOLD snaps up another equity stake in Colombian gold company

Mid-tier gold producer IAMGOLD (TSE:IMG) has purchased a 14% stake in Colombia Crest Gold Corp. (CVE:CLB) for $3.4 million. Stock in Colombia Crest Gold shot up 9.43% on the news. The private placement follows IAMGOLD's earlier investments in Tolima Gold Corp., a junior miner, and Bellhaven Copper & Gold (CVE:BHV).

IAMGOLD Increases Dividend by 150% and Provides Update for Q2 2011

"Cost inflation has been experienced at all operations," continued Mr. Stothart. "The industry is experiencing higher costs for fuel, consumables and labour in all regions this year, as well as higher royalties commensurate with the higher gold prices. Even with these higher costs, and a conservative gold price assumption of $1,200 per ounce, we believe that the projected cash flow from our operations combined with our current cash position will fund our significant three-year $1.2 billion investment to expand production at our existing gold mines and further strengthen our balance sheet."

Iamgold ups Merrex stake to 14% as Mali project gears up

Merrex Gold announced on Thursday a private placement worth $1.75m with Iamgold, its earn-in partner on the Siribaya Gold Project in Mali, which is potentially a 5m ounce deposit. Merrex's agreement with Iamgold will see the company take a 50% stake in Siribaya with Iamgold spending $10.5m on exploration over four years. In a note to investors Merrex said that spending on the 800 square km Mali project which kicked off in 2005, is being accelerated.

IAMGOLD's Essakane Mine resumes operation

IAMGOLD announced that employees at the Company's Essakane Mine in Burkina Faso are back at work and that the mine has resumed operation. Negotiations are to resume immediately with the intent to resolve all issues within the next 60 days.

IAMGOLD reports record first quarter net earnings operating cash flow up 177% year-over-year

IAMGOLD Corporation reported its unaudited consolidated financial and operating results for the first quarter ended March 31, 2011. Net earnings were $162.3 million ($0.41 per share), an increase of $102.1 million compared to the first quarter of 2010, and operating cash flow was $205.8 million ($0.55 per share1), representing an increase of 177% from the first quarter of 2010. "Our strong first quarter results reflect our focused strategy to maximize the value of mines that we own and operate," said Steve Letwin, IAMGOLD's President and CEO. "Attributable gold production was up 41% year-over-year driven chiefly by the inclusion of Essakane along with higher recoveries at Rosebel. We continue to benefit from higher gold prices and are implementing various initiatives to reduce our cash costs."

Independent technical report confirms IAMGOLD's niobium mine potential with a 691% increase in M&I resources and a net asset value up to $2 billion

IAMGOLD Corporation (TSX:IMG)(NYSE:IAG) today announced the results of an independently prepared NI 43-101 compliant preliminary economic assessment ("PEA") on the company's wholly-owned Niobec niobium mine in the province of Quebec, Canada. The PEA shows a significant increase in the measured, indicated and inferred mineral resource estimates at Niobec with the potential for a significant production expansion. The PEA examined the impact of changing the existing underground mine to an alternative bulk mining method. IAMGOLD technical personnel then compared the economics of the open pit scenario and a block caving scenario. The work done on the PEA and the study will be advanced in a 2011 pre-feasibility study to confirm the potential upside of Niobec.

Quarterly gold production up 41% – Iamgold

Mid-tier gold miner Iamgold's quarterly gold production rose 41 percent on strong performance at its largest assets, the Rosebel mine in Suriname and Essakane mine in Burkina Faso. Toronto-based Iamgold, which also has mines in Canada, South America and Africa, said gold production came in at 290,000 attributable ounces at a cash cost of $570 to $580 per ounce.

IAMGOLD sells minority stakes in Ghana mines to Gold Fields, faces uncertainty in Burkina Faso

IAMGOLD (TSX: IMG) agreed to sell its 18.9-percent interests in two Ghanaian gold mines, Tarkwa and Damang, to Gold Fields (NYSE: GFI), the majority stakeholder, for $667 million. The company reasoned it hasn't been getting fair value by investors as minority players in mines in which Gold Fields owns the majority stakes. "Our strategy is to invest in mines that we own and operate, as they represent the best return on investment for our shareholders," Steve Letwin, IAMGOLD president and CEO said in a statement.

IAMGOLD signs memorandum of understanding with China Gold

IAMGOLD Corporation signed a memorandum of understanding on Monday with China National Gold Group Corporation to cooperate in the development of mineral deposits. "This agreement marks the beginning of what we believe will be a […]

IAMGOLD reports 16.4 mn ounces of proven and probable gold reserves

IAMGOLD CEO Steve Letwin said the company’s Westwood gold development project in the Abitibi region of Quebec is expected to start production in early 2013.

IAMGOLD contractor dies at Rosebel Gold Mines in Suriname

This weekend a contractor for IAMGOLD Corporation died at the company's Rosebel Gold Mine in Suriname when the all-terrain utility vehicle the employee was driving rolled on its side. According to a company news release, […]