Iamgold Corporation is a Toronto-based international gold producer. The company is engaged in the exploration, development, and production of mineral resource properties throughout the world.
IAMGOLD has an annual production of approximately 800,000 ounces of gold from operations in North America, South America, and West Africa.
In Q1 2017 IAMGOLD reported attributable gold production of 214,000 ounces at all-in sustaining costs of $992 per ounce sold. For the quarter the Company posted a net loss of $18 million.
The following mines provide attributable gold production to the company:
The Company is exploring and progressing feasibility studies on a number of options. Projects of note include, but are not limited to:
At the end of 2014, IAMGOLD held an 86% interest in Euro Ressources, a French corporation, which in turn held a royalty on IAMGOLD's Rosebel mine, and 14% of Colombus Gold's outstanding shares. Colombus Gold is focused on the development of the Montagne d'Or Gold Deposit, located on the Paul Isnard concession in French Guiana, which hosts an NI43-101 in-pit gold resource of 3.9 million ounces at approximately 1.5 g/t.
In January 2017 IAMGOLD released a positive preliminary economic assessment for the Côté Gold project that outlined a 21-year mine life producing an average of 302,000 ounces of gold annually at average total cash costs of $564/oz and all-in sustaining costs of $686/oz.
In June 2017 IAMGOLD released a positive Pre-Feasibility Study for its Côté Gold Project in Northern Ontario that outlined proven and probable gold reserves of 5.9 million ounces. The study estimated a 17-year mine life producing an average of 320,000 ounces of gold annually.
IAMGOLD and its predecessor companies have existed since 1986. Notable divested and closed mines from IAMGOLD and its predecessor companies include:
Stephen Letwin was appointed President and Chief Executive Officer of Iamgold on November 1, 2010. Letwin held executive positions at Enbridge Inc., TransCanada Energy and TransCanada Pipelines prior to joining Iamgold. He is a certified general accountant and a member of the Certified General Accountants of Ontario. He holds an MBA from the University of Windsor and is a graduate of the Harvard Advanced Management Program.
The company announced on January 23, 2013, that it is reducing exploration activity in Mali as a result of events in this country. This is not expected to impact production at the two mines in Mali where the company holds an operating interest.
In December 2016 IAMGOLD announced it would acquire junior mining company Merrex Gold. Merrex's primary assets were gold properties in West Mali, Guinea and Nova Scotia.
In June 2017 IAMGOLD closed a transaction with Sumitomo Metal Mining Co., a Japanese based mining company, to develop the Côté Gold Project in Ontario. Sumitomo purchased a 30% stake in Côté in exchange for a $195 million investment.