IAMGOLD Expands Presence in West Africa and Announces Appointment of Senior Vice President, African Operations
January 08 2009 - 11:04AM
Marketwired
IAMGOLD Corporation ("IAMGOLD") (TSX: IMG)(NYSE: IAG)(BOTSWANA:
IAMGOLD) is pleased to announce the appointment of Brian Chandler
as Senior Vice President, African Operations. Brian will lead the
expansion of IAMGOLD's presence on the African continent, in the
role of Managing Director, IAMGOLD Africa.
Brian is a professional engineer with 25 years' experience in
many aspects of the mining industry, working in both underground
and open pit mining operations and development projects in Canada,
Ireland and Africa. He has been a consultant to IAMGOLD over the
past 8 months and was instrumental in the operational improvements
at our Mupane gold mine in Botswana, where costs were significantly
reduced this year through efficiencies; cash operating costs of
US$408/oz for the nine months ended September 30, 2008 compared
with US$572/oz a year earlier.
Brian will be establishing an IAMGOLD Corporate Office in
Africa, initially in Dakar, from which he will be responsible for
IAMGOLD's African operations and for building relationships with
joint venture partners, governments and local communities. Brian
will also take the lead in driving IAMGOLD's growth strategy in
West Africa, one of IAMGOLD's key focus areas.
IAMGOLD currently has interests in two gold mines in Mali, two
in Ghana and one in Botswana. In 2008, about half of IAMGOLD's
global gold production was from these African operations.
Moving forward, IAMGOLD will further its position as a leading
gold player in West Africa upon completion of the recently
announced transaction with Orezone Resources Inc. ("Orezone").
Under the proposed transaction, IAMGOLD would acquire, via a plan
of arrangement, all of the outstanding common shares of Orezone
Resources Inc. in a supported, all-share transaction (the
"Transaction"). Completion of the Transaction is expected in late
February, subject to, among other things, the approval by the
shareholders of Orezone at a special meeting of shareholders of
Orezone, and final court approval.
On completion, IAMGOLD would own a 90% interest in the fully
permitted, 4 million ounce Essakane gold project, located in
Burkina Faso, West Africa, with the Burkina Faso Government holding
the remaining 10%. Construction commenced in September of 2008 for
a mine that will contribute average gold production of over 300,000
ounces per year over a minimum nine-year mine life. Full production
is anticipated in late 2010. IAMGOLD's newly appointed Managing
Director, IAMGOLD Africa, Brian Chandler will play a leading role
in the integration and construction of the Essakane gold
project.
"We are pleased to have an experienced mining executive join us
to further establish our presence in West Africa. Brian further
expands our executive team and has the mining expertise and
experience to deliver on our aggressive growth objectives in
Africa," commented Joseph Conway, IAMGOLD's President &
CEO.
ABOUT IAMGOLD
IAMGOLD is a leading mid-tier gold mining company producing
almost one million ounces from 7 mines on 3 continents. IAMGOLD is
focused on growth with a target to reach 1.8 million ounces gold
production by 2012. IAMGOLD is uniquely positioned, with a strong
financial base, together with the management and operations
expertise to execute on our aggressive growth objectives. IAMGOLD
is focused in West Africa, the Guiana Shield of South America and
in Quebec, Canada with a pipeline of development and exploration
projects. IAMGOLD continues to assess accretive acquisition
opportunities with a strategic fit. IAMGOLD is listed on the
Toronto Stock Exchange ("IMG"), the New York Stock Exchange ("IAG")
and the Botswana Stock Exchange.
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 Elaine Ellingham SVP, Investor
Relations & Communications (416) 360-4712 or Toll Free:
1-888-IMG-9999 (416) 360-4750 (FAX) Email: info@iamgold.com
Website: www.iamgold.com
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