TORONTO, ONTARIO--(Marketwire - April 21, 2011) -
All amounts are expressed in US dollars, unless otherwise indicated.
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 announced the following for
the first quarter of 2011:
-- gold production of 290,000 attributable ounces at a cash cost of between $570 and $580 per ounce; and -- niobium production of 1.1 million kilograms at a margin within the guidance range of $15 to $17 per kilogram.
IAMGOLD's President and Chief Executive
Officer, Steve Letwin said, "Our mines
have had an excellent start in 2011. The performance of assets where we
are the principal owner and operator has been impressive this quarter,
specifically our largest assets, the Rosebel
mine in Suriname and the Essakane mine in
Burkina Faso."
"Our Essakane mine has performed
extremely well, despite protests in other parts of Burkina Faso,"
said Gord Stothart,
Executive Vice President and Chief Operating Officer of IAMGOLD.
"The improving mill throughput and gravity circuit recoveries at Essakane continue to validate the expansion
feasibility study currently underway. Early rains signal the beginning
of the rainy season in Burkina Faso, giving us confidence that we can
continue running this operation without unscheduled
interruptions."
IMPACT OF SALE OF COMPANY INTERESTS IN TARKWA AND DAMANG MINES
On April 15, 2011 IAMGOLD announced that it had reached an agreement to
sell its 18.9% interest in the Tarkwa and Damang gold mines in Ghana, West Africa to Gold
Fields Limited ("Gold Fields") for $667 million in cash
("the Transaction"). The Transaction is subject to the
approval of Gold Fields' shareholders and is expected to close no later
than July 31, 2011. The Company expects to record an after-tax gain on
the sale of approximately $400 million.
Full year results and analysis are scheduled to become available on May
11, 2011.
Forward Looking Statement
This news release contains forward-looking statements. All statements,
other than of historical fact, that address activities, events,
developments or results 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 and expected production or guidance) 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 operate at nameplate
capacity 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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