IAMGOLD Reports Camp Caiman Permits Not Approved
January 31 2008 - 9:44AM
Marketwired
TORONTO, ONTARIO (NYSE: IAG) (BOTSWANA: IAMGOLD) ("IAMGOLD" or
"the Company") reports that the French Government through a
declaration issued on behalf of the President's Office has advised
that the President will not approve the final permits necessary to
commence construction of the Camp Caiman project located in French
Guiana. No technical, environmental or legal reasoning for the
decision was provided in the declaration. The Company will be
seeking further information from the relevant authorities in order
to determine next steps.
Camp Caiman is a development project hosting approximately 1.1
million ounces of gold. Throughout the permitting process, the
Company has fulfilled all legal, technical and environmental
obligations required; including full and open public hearings and
consultations. The project received a positive response from the
relevant authorities, as well as a positive recommendation from the
CODERST, a government appointed committee designed to review such
projects.
"The Camp Caiman project exemplified the highest standards of
environmental protection and innovation, based on an extensive
application and public hearing process dating back to 2005" stated
Joseph Conway, President & CEO, "We firmly believe that the
Camp Caiman project could be a catalyst for the economic
development of the French Guiana region as well as a model for
socially and environmentally responsible mining in France. IAMGOLD
has committed significant resources to the Camp Caiman project and
we will be considering all of our options for protecting and
advancing those interests going forward."
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission (the "SEC")
permits mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can
economically and legally extract or produce. We use certain terms
in this press release, such as "mineral resources", that the SEC
guidelines strictly prohibit us form including in our filings with
the SEC. U.S. investors are urged to consider closely the
disclosure in the IAMGOLD Annual Report on Form 40-F. A copy of the
2006 Form 40-F is available to shareholders, free of charge, upon
written request addresses to the Investor Relations Department.
Please note:
This entire press release may be accessed via fax, e-mail,
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.sedar.com or at www.sec.gov.
Si vous desirez obtenir la version francaise de ce communique,
veuillez consulter le http://www.iamgold.com/fr/accueil.html.
Contacts: IAMGOLD Corporation Lisa Doddridge Director, Investor
Relations (416) 360-4710 or Toll-free: 1-888-IMG-9999 Renmark
Financial Communications Inc. John Boidman (514) 939-3989 (514)
939-3717 (FAX) Email: jboidman@renmarkfinancial.com Renmark
Financial Communications Inc. Henri Perron (514) 939-3989 (514)
939-3717 (FAX) Email: hperron@renmarkfinancial.com Website:
www.renmarkfinancial.com
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