IAMGOLD Corporation says that it has reached a definitive agreement (the “Agreement”) with the Government of the Republic of Suriname addressing future resource development and related power costs.
The Agreement, once executed, will amend the existing Mineral Agreement regarding the Company’s Rosebel mine in Suriname. It is expected that the Agreement, which follows the Heads of Agreement announced in December 2011, will be referred to the National Assembly of the Republic of Suriname as soon as practicable for their review and approval. Until such approval has been received, both parties have agreed to keep confidential the details of the Agreement.
IAMGOLD President and CEO, Steve Letwin, stated, “This is a mutually beneficial agreement that underscores the collaborative nature of our partnership with the Government of Suriname. We and the Government have had ongoing discussions for over a year to achieve this landmark agreement and through that process have significantly increased our understanding of each other’s objectives and solidified a relationship from which we can build a prosperous future for both parties.”