The gold and copper miner didn’t specified where the alleged misconduct took place.
Suriname Mining News
Current gold environment necessitates cost cutting.
What? No writedowns and $1.5 billion operating cashflow?
The Rosebel mine produced 82,000 ounces of the precious yellow metal in 2012.
A total of 1,391 samples were sent to Filab Suriname. A review of the assay results determined that holes GRA -003 and ALI-003 were the only holes to return assays of greater than 0.4 grams gold per ton.
Rosebel Goldmines (RGM) has achieved a record production in Brokopondo of nearly 400,000 troy ounces (12,440 kilos) of gold. RGM’s parent company IamGold announces this in its annual report for 2010. Suriname provides nearly half of IamGold’s total gold production out of seven mines in North and South America and Africa.
Suriname President Desi Bouterse has named a commission that will try to negotiate a deal for one of the world's largest gold mining companies to begin a mine project in the undeveloped South American nation. The seven-member panel announced Saturday will be negotiating with U.S.-based Newmont Mining Corp.
Suriname's only commercial gold mine, the Rosebel Gold Mine which is majority owned by Canada's Iamgold, has been shut down by a strike by 1,100 workers protesting new longer shift hours. Rosebel is located some 118 kilometers south of Paramaribo (pictured), the capital of the South American nation. The mine produced 395,000 ounces in 2010 at cash cost of $484 per ounce. While Rosebel is the country's only commercially operated mine, there are believed to be thousands of small scale miners operating in the tiny, impoverished country.
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."
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, […]