TORONTO, ONTARIO--(Marketwire
- Dec. 9, 2010) -
If you are unable to view this release, visit www.iamgold.com.
IAMGOLD Corporation ("IAMGOLD" or the "Company")
(TSX:IMG)(NYSE:IAG)(BOTSWANA:IAMGOLD) today
reported that it has increased its annual dividend payment by 33% from
$0.06 per share to $0.08 per share. The annual dividend will be paid on
January 14, 2011 to shareholders of record as of the close of trading
on December 24, 2010. In addition, the Company has provided guidance
for 2011, with gold production expected to increase by approximately
20% over the current forecast production for 2010.
IAMGOLD's President and CEO, Steve Letwin
said, "The dividend increase reflects the confidence the board and
management have in the current and future cash flows for the Company.
We have a superior combination of assets and people, and when you
couple that with our strong balance sheet and attractive opportunities,
the outlook for growth is very positive."
In 2011, IAMGOLD expects attributable gold
production to be in the range of between 1.1 million and 1.2 million
ounces of gold at a cash cost of between $565 and $595 per ounce,
assuming an average spot price for gold of $1,300. For niobium the
Company expects to produce between 4.7 million and 5.0 million
kilograms of niobium at a margin of between $15 and $17 per kilogram.
As a further update to the status of the Essakane
Mine in Burkina Faso, the electrical problem that occurred in November
was fully rectified and the mine is operating at or above nameplate
capacity. The land holding surrounding the current operations continues
to exhibit significant upside potential and will be a focal point of
the Company's 2011 exploration plans.
In future, the Company plans to pay its dividend semi-annually. For
purposes of subsection 89(14) of the Income Tax Act, the Company
designates all dividends payable on January 14, 2011 to be eligible
dividends.
Forward Looking Statement
This news release contains forward-looking statements. All statements,
other than of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements
regarding the estimation of mineral resources, exploration results,
potential mineralization, potential mineral resources and mineral
reserves) are forward-looking statements. Forward-looking statements
are generally identifiable by use of the words "may",
"will", "should", "continue",
"expect", "anticipate", "estimate",
"believe", "intend", "plan" or
"guidance" or the negative of these words or other variations
on these words or comparable terminology. Forward-looking statements
are subject to a number of risks and uncertainties, many of which are
beyond the Company's ability to control or predict, that may cause the
actual results of the Company to differ materially from those discussed
in the forward-looking statements. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things, without limitation, failure to establish
estimated mineral resources, the possibility that future exploration
results will not be consistent with the Company's expectations, changes
in world gold markets and other risks disclosed in IAMGOLD's most
recent Form 40-F/Annual Information Form on file with the United States
Securities and Exchange Commission and Canadian provincial securities
regulatory authorities. Any forward-looking statement speaks only as of
the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement.
About IAMGOLD
IAMGOLD (www.iamgold.com) is
a leading mid-tier gold mining company producing approximately one
million ounces annually from 8 gold mines on 3 continents. IAMGOLD is
uniquely positioned with a strong financial position and extensive
management and operational expertise. To grow from this strong base,
IAMGOLD has a pipeline of development and exploration projects and
continues to assess accretive acquisition opportunities. IAMGOLD's
growth plans are strategically focused in West Africa, select countries
in South America and in the Canadian provinces of Ontario and Quebec,
where it also operates a niobium mine.
Please note:
This entire news release may be accessed via IAMGOLD's website at www.iamgold.com and
through Marketwire's website at www.marketwire.com.
All material information on IAMGOLD can be found at www.iamgold.com.
Si vous desirez
obtenir la version francaise de ce
communique, veuillez consulter le http://www.iamgold.com/French/Home/default.aspx.
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