New agreement for expanding gold operations

Suriname has signed a new agreement with the Canadian-based IAMGOLD Corporation that will facilitate a substantial expansion of the company's gold-mining operations in the company's Brokopondo district.

"Parties agreed to cooperate in the development in these priority areas, specifics of which will be concluded and announced in the near term," IAMGOLD said in a statement.

"I am very pleased with the current investment in Suriname. This new framework lays the foundations for us to significantly increase our investment here," said IAMGOLD president and chief executive officer, Steve Letwin.

"We strongly believe that Suriname is and will continue to be our first growth priority. We share with the Government a strong, demonstrated commitment to sustainable development and will continue to work jointly with our Government partners to achieve that goal."

IAMGOLD is a leading mid-tier gold-mining company producing approximately one million ounces annually from eight gold mines on three continents.

The company, since November 2006, owns 95 per cent of the Rosebel Gold Mines, situated 80 kilometers south of Paramaribo, with the government owning the remaining five per cent.

- CMC