TSX: IMG NYSE: IAG
TORONTO, March 6, 2017 /CNW/ - IAMGOLD Corporation
("IAMGOLD" or the "Company") today announced the signature of a
power purchase agreement among IAMGOLD Essakane SA, EREN Renewable
Energy SA, AREN ENERGY (PTY) Ltd. and Essakane Solar SAS to begin
the development of a 15 MWp solar power plant in 2017 for the
Company's Essakane mine in Burkina
Faso. The agreement is for an initial period of up to
15 years. The mine is located about 330 kilometers northeast
of the Burkinabe capital city, Ouagadougou. Jointly owned by IAMGOLD
Corporation (90%) and the Government of Burkina Faso (10%), IAMGOLD Essakane SA, which
owns and operates the Essakane mine, produces over 400,000 ounces
of gold per year. Essakane Solar SAS, a local entity created by the
project developers, will operate the solar power plant that sells
the energy to the Essakane mine.
"Hybrid power systems enable energy intensive industries, such
as mines, to reduce fuel consumption, decrease energy costs,
protect against fuel price volatility, as well as improve their
social and environmental footprint by cutting greenhouse gas
emissions and boosting local employment," commented President and
CEO of IAMGOLD Steve Letwin. "This 15 MWp solar project may only be
the beginning for our Essakane mine, but IAMGOLD is already well on
its way to increase the proportion of renewables to 15% of its
total energy needs within three to five years. Switching
power generation to renewables has been on IAMGOLD's agenda for
several years as evidenced by the 5MW solar power plant that was
installed in 2014 at the Company's Rosebel
Gold Mine in Suriname."
With the transition to processing harder ore, energy consumption
at the Essakane mine has increased from about 14 GWh/month in 2013
to 26 GWh/month in 2015. In light of this, IAMGOLD Essakane SA
decided to partner with African Energy Management Platform (AEMP)
and global renewable energy independent power producer EREN
Renewable Energy SA, to construct solar capacity to complement the
existing 57MW heavy fuel oil ("HFO") power plant. In the project's
first phase, 15 MWp of solar capacity would be built and the
hybridization of IAMGOLD Essakane SA's HFO power plant will allow
savings of approximately six million liters of fuel and a reduction
of 18,500 tonnes of CO2 per year. The project will also
bring the creation of 40 new jobs.
CAUTIONARY STATEMENT ON
FORWARD-LOOKING
INFORMATION
All information included in this news
release that express management's expectations or estimates of
future performance, other than statements of historical fact,
constitute forward looking information or forward-looking
statements and are based on expectations, estimates and projections
as of the date of this news release. For example, forward-looking
statements contained in this news release include, without
limitation, statements with respect to: the Company's guidance for
production, capital expenditures, cost management initiatives,
costs of production, permitting timelines, requirements for
additional capital, government regulation of mining operations and
environmental risks. Forward-looking statements are provided
for the purpose of providing information about management's current
expectations and plans relating to the future. Forward-looking
statements are generally identifiable by, but are not limited to
the use of the words "may", "will", "could", "would" or "intend" or
the negative of these words or other variations on these words or
comparable terminology. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. The Company cautions the reader that reliance on
such forward-looking statements involve risks, uncertainties and
other factors that may cause the actual financial results,
performance or achievements of IAMGOLD to be materially different
from the Company's estimated future results, performance or
achievements expressed or implied by those forward-looking
statements, and the forward-looking statements are not guarantees
of future performance. These risks, uncertainties and other factors
include, but are not limited to, changes in the global prices for
gold or certain other commodities (such as diesel and electricity);
mining tax regimes; ability to successfully integrate acquired
assets; legislative, political or economic developments in the
jurisdictions in which the Company carries on business; operating
or technical difficulties in connection with mining or development
activities; laws and regulations governing the protection of the
environment; employee relations; availability and increasing costs
associated with mining inputs and labour; contests over title to
properties, particularly title to undeveloped properties; and the
risks involved in the exploration, development and mining business.
Risks and unknowns inherent in all projects include the capital and
operating costs of such projects, and the future prices for the
relevant minerals. Development projects have no operating history
upon which to base estimates of future cash flows. The capital
expenditures and time required to develop new mines or other
projects are considerable, and changes in the price of gold, costs
or construction schedules can affect project economics. Actual
costs and economic returns may differ materially from IAMGOLD's
estimates or IAMGOLD could fail to obtain the governmental
approvals necessary for the operation of a project; in either case,
the project may not proceed, either on its original timing or at
all.
For a more comprehensive discussion of the risks faced by the
Company, and which may cause the actual financial results,
performance or achievements of IAMGOLD to be materially different
from the company's estimated future results, performance or
achievements expressed or implied by forward-looking information or
forward-looking statements, please refer to the Company's latest
Annual Information Form, filed with Canadian securities regulatory
authorities at www.sedar.com, and filed under Form 40-F with the
United States Securities Exchange Commission at
www.sec.gov/edgar.shtml. The risks described in the Annual
Information Form (filed and viewable on www.sedar.com and
www.sec.gov/edgar.shtml, and available upon request from the
Company) are hereby incorporated by reference into this news
release.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise except as required by
applicable law.
About IAMGOLD
IAMGOLD (www.iamgold.com) is a mid-tier
mining company with four operating gold mines on three continents.
A solid base of strategic assets in North and South America and West Africa is complemented by development and
exploration projects and continued assessment of accretive
acquisition opportunities. IAMGOLD is in a strong financial
position with extensive management and operational expertise.
Please note:
This entire news release may be accessed via fax, e-mail, IAMGOLD's
website at www.iamgold.com and through CNW Group's website at
www.newswire.ca. All material information on IAMGOLD can be found
at www.sedar.com or at www.sec.gov.
Si vous désirez obtenir la version française de ce communiqué,
veuillez consulter le
http://www.iamgold.com/French/accueil/default.aspx.
SOURCE IAMGOLD Corporation