IAMGOLD REACHES THREE YEAR LABOUR AGREEMENTS AT NIOBEC
Toronto, Ontario, May 5, 2008 - IAMGOLD Corporation ("IAMGOLD" or "the Company") is pleased to announce the successful negotiation and ratification of two collective agreements with the Canadian Auto Workers Union (CAW/TCA) at its Niobec Mine. The two collective agreements cover the 175 Production & Maintenance employees and 40 Clerical & Technical employees at the niobium operation located near Chicoutimi, Quebec.
Highlights of the three year agreements include:
-
Wage increases of 3%, 4.5%, 4.5%.
-
Enhancements to the existing defined contribution pension plan
-
Improvements to the shift and weekend premiums
"We are pleased to have successfully negotiated these agreements, which we believe are fair, balanced and meet the needs of both the company and our employees," said Yoland Dub�, General Manager, Niobec Mine.
Since the transition to operator in late 2006, IAMGOLD has negotiated new collective agreements with all seven of its unions worldwide. "The negotiation of these collective agreements illustrates the good working relationship that we have with our employees and demonstrates IAMGOLD'S capability to successfully integrate acquisitions," said Joseph Conway, President & CEO, IAMGOLD.
Forward Looking Statement
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of IAMGOLD, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from IAMGOLD's expectations are disclosed under the heading "Risk Factors" and elsewhere in IAMGOLD documents filed from time-to-time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulat
ory authorities.
For further information please contact:
IAMGOLD Corporation:
Lisa Doddridge
Director, Investor Relations
Tel: (416) 360-4710
Toll-free: 1 888 IMG-9999
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Henri Perron: hperron@renmarkfinancial.com
T: (514) 939-3989
F: (514) 939-3717
www.renmarkfinancial.com
Please note:
This entire press release may be accessed via fax, e-mail, 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.sedar.com or at www.sec.gov.
SI VOUS D�SIREZ OBTENIR LA VERSION FRAN�AISE DE CE COMMUNIQU�, VEUILLEZ CONSULTER LE HTTP://WWW.IAMGOLD.COM/FR/ACCUEIL.HTML.
|
IAMGOLD Corporation
|
|
PRODUCER |
CODE : IMG.TO |
ISIN : CA4509131088 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
IAMGOLD is a gold producing company based in Canada. IAMGOLD produces gold, diamonds, lead, niobium, rare earth, silver and zinc in Botswana, in Canada, in Ecuador, in Ghana, in Guyana, in Indonesia, in Mali, in Peru, in South Africa, in Suriname and in Tanzania, develops gold in Burkina Faso, in Ecuador and in French Guyana, and holds various exploration projects in Canada, in Ecuador, in Honduras, in Mali, in Peru and in South Africa. Its main assets in production are OMAI MINE in Guyana, MOUSKA MINE, PORCUPINE, SLEEPING GIANT, NIOBEC, DOYON and GRAND DUC in Canada, YATELA and SADIOLA in Mali, MUPANE in Botswana, DAMANG PROJECT, TARKWA and TEBEREBIE in Ghana, ROSEBEL in Suriname, ZARUMA in Ecuador, TAMBORAQUE in Peru, ARDO MINE in South Africa, BUCKREEF in Tanzania and RAWAS GOLD PROJECT in Indonesia, its main assets in development are ESSAKANE in Burkina Faso, CAMP CAIMAN in French Guyana and QUIMSACOCHA PROJECT in Ecuador and its main exploration properties are TEX-SOL, LESPERANCE, CREVIER and WESTWOOD in Canada, BAMBADJI in Senegal, ALAMOUTALA (SADIOLA II) and SIRIBAYA in Mali, GILT EDGE MINE & ANCHOR HILL in Ecuador, PODEROSA MINE in Peru and VUELTAS DEL RIO / EL ZAPOTAL in Honduras. IAMGOLD is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.4 billions as of today (US$ 1.8 billions, € 1.6 billions). Its stock quote reached its highest recent level on April 28, 2006 at CA$ 9.98, and its lowest recent point on September 30, 2022 at CA$ 1.27. IAMGOLD has 464 620 000 shares outstanding. |