Update on IAMGOLD's Essakane Mine
TORONTO, ONTARIO -- (Marketwire) -- 05/12/11 -- IAMGOLD Corporation ('IAMGOLD' or 'the Company') (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) announced that it has halted the operation at its Essakane Mine in Burkina Faso pending the resolution of some labour unrest at its Essakane Mine in Burkina Faso.
Steve Letwin, President and CEO of IAMGOLD, said, 'We are currently in negotiations to resume operations as quickly as possible and are confident that this work stoppage will not be prolonged nor have a material impact on the Company. We intend to provide further updates when there are any significant changes to the current situation.'
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 regions of Canada. IAMGOLD also operates Niobec, a niobium mine in the Canadian province of Quebec.
Forward Looking Statement
This news release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments 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) 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 'project' 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 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.
Please note:
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Contacts:
IAMGOLD Corporation
Bob Tait
VP Investor Relations
(416) 360-4743
Mobile: (647) 403-5520
IAMGOLD Corporation
Laura Young
Director, Investor Relations
(416) 933-4952
Toll-free: 1 888 464-9999
info@iamgold.com