IAMGOLD Provides Update on Media Reports Concerning Burkina Faso
IAMGOLD (TSX: IMG) (NYSE: IAG) has provided an update on its operations in Burkina Faso following media reports about a radio interview with President Traoré. The President discussed various topics, including a reference to potentially withdrawing mining permits from companies violating Burkina Faso's laws. IAMGOLD is not aware of any potential challenge to its permits for the Essakane mine, which continues to operate in compliance with regulations.
The company reports a constructive and positive working relationship with the government, demonstrated by coordination on security and community service. IAMGOLD recently received its 2024 dividend, approved earlier by the government. The Essakane mine is expected to produce between 380,000 to 410,000 ounces of attributable gold in 2024, with cash costs ranging from $1,175 to $1,275 per ounce.
IAMGOLD (TSX: IMG) (NYSE: IAG) ha fornito un aggiornamento sulle sue operazioni in Burkina Faso a seguito di notizie mediatiche su un'intervista alla radio con il Presidente Traoré. Il Presidente ha discusso vari argomenti, inclusa una menzione riguardante la possibilità di revocare i permessi minerari alle aziende che violano le leggi del Burkina Faso. IAMGOLD non è a conoscenza di alcuna potenziale sfida ai suoi permessi per la miniera di Essakane, che continua a operare in conformità con le normative.
L'azienda riporta un rapporto di lavoro costruttivo e positivo con il governo, dimostrato dalla coordinazione sulla sicurezza e sui servizi alla comunità. IAMGOLD ha recentemente ricevuto il suo dividendo per il 2024, approvato in precedenza dal governo. La miniera di Essakane è prevista produrre tra 380.000 e 410.000 once di oro attribuibile nel 2024, con costi in contante che variano da 1.175 a 1.275 dollari per oncia.
IAMGOLD (TSX: IMG) (NYSE: IAG) ha proporcionado una actualización sobre sus operaciones en Burkina Faso tras los informes de los medios sobre una entrevista de radio con el Presidente Traoré. El Presidente discutió varios temas, incluida una referencia a la posible retirada de los permisos mineros a las empresas que violen las leyes de Burkina Faso. IAMGOLD no tiene conocimiento de ningún desafío potencial a sus permisos para la mina Essakane, que sigue operando en cumplimiento con las regulaciones.
La empresa informa de una relación de trabajo constructiva y positiva con el gobierno, demostrada por la coordinación en seguridad y servicios comunitarios. IAMGOLD recibió recientemente su dividendo de 2024, aprobado anteriormente por el gobierno. Se espera que la mina Essakane produzca entre 380,000 y 410,000 onzas de oro atribuible en 2024, con costos en efectivo que oscilan entre $1,175 y $1,275 por onza.
IAMGOLD (TSX: IMG) (NYSE: IAG)는 트라오레 대통령과의 라디오 인터뷰에 대한 언론 보도 이후 부르키나파소 내 운영에 대한 업데이트를 제공했습니다. 대통령은 부르키나파소 법을 위반하는 기업에 대한 채굴 허가 철회의 가능성에 대해 언급하는 등 다양한 주제에 대해 논의했습니다. IAMGOLD는 에사카네 금광에 대한 허가의 잠재적인 도전에 대해 알지 못합니다, 이 금광은 규정 준수를 계속하고 있습니다.
회사는 정부와의 건설적이고 긍정적인 작업 관계를 보고하고 있으며, 이는 보안 및 지역 사회 서비스에 대한 협조로 입증됩니다. IAMGOLD는 최근 정부에서 이전에 승인한 2024년 배당금을 받았습니다. 에사카네 금광은 2024년에 380,000에서 410,000 온스의 기여 금을 생산할 것으로 예상되며, 현금 비용은 온스당 1,175달러에서 1,275달러 사이입니다.
IAMGOLD (TSX: IMG) (NYSE: IAG) a fourni une mise à jour sur ses opérations au Burkina Faso suite à des rapports médiatiques concernant une interview à la radio avec le Président Traoré. Le Président a abordé divers sujets, y compris une référence à la possibilité de retirer des permis miniers aux entreprises qui enfreignent les lois du Burkina Faso. IAMGOLD n'est pas au courant d'un éventuel défi à ses permis pour la mine d'Essakane, qui continue d'opérer conformément aux réglementations.
L'entreprise signale une relation de travail constructive et positive avec le gouvernement, démontrée par une coordination sur la sécurité et le service communautaire. IAMGOLD a récemment reçu son dividende pour 2024, approuvé antérieurement par le gouvernement. La mine d'Essakane devrait produire entre 380 000 et 410 000 onces d'or attribuables en 2024, avec des coûts en espèces variant de 1 175 à 1 275 dollars par once.
IAMGOLD (TSX: IMG) (NYSE: IAG) hat eine Aktualisierung zu seinen Aktivitäten in Burkina Faso gegeben, nachdem Medienberichte über ein Radiointerview mit Präsident Traoré veröffentlicht wurden. Der Präsident sprach über verschiedene Themen, darunter eine Erwähnung der möglichen Rücknahme von Bergbaugenehmigungen für Unternehmen, die gegen die Gesetze von Burkina Faso verstoßen. IAMGOLD ist sich keiner potenziellen Herausforderung seiner Genehmigungen für die Essakane-Mine bewusst, die weiterhin in Übereinstimmung mit den Vorschriften betrieben wird.
Das Unternehmen berichtet von einer konstruktiven und positiven Arbeitsbeziehung zur Regierung, die durch die Koordination von Sicherheits- und Gemeindediensten belegt wird. IAMGOLD hat kürzlich seine Dividende für 2024 erhalten, die zuvor von der Regierung genehmigt wurde. Es wird erwartet, dass die Essakane-Mine im Jahr 2024 zwischen 380.000 und 410.000 Unzen anzurechnendem Gold produzieren wird, mit Bargeldkosten zwischen 1.175 und 1.275 US-Dollar pro Unze.
- Essakane mine continues to operate in compliance with regulations
- Constructive relationship with Burkina Faso government
- Received 2024 dividend approved by the government
- Expected attributable gold production of 380,000 to 410,000 ounces in 2024
- Impressive safety track record at Essakane mine
- Potential uncertainty due to President Traoré's comments on mining permit withdrawals
- Cash costs projected at $1,175 to $1,275 per ounce
Insights
The news from IAMGOLD regarding its operations in Burkina Faso is reassuring for investors, despite initial concerns raised by media reports. The company's statement that it's unaware of any challenges to its mining permits for the Essakane mine is crucial. This, coupled with the continued operation in compliance with existing permits, suggests stability in their Burkina Faso operations.
Key points to consider:
- Constructive relationship with the government, evidenced by coordination on security and community services
- Receipt of the
2024 dividend approved by the government - Expected attributable production of 380,000 to 410,000 ounces for the year
- Projected cash costs of
$1,175 to$1,275 per ounce
While political risk in Burkina Faso remains a concern, IAMGOLD's update indicates business continuity and government support. The production guidance and cost projections provide a solid basis for financial planning. However, investors should remain vigilant about potential political developments in the region that could impact operations.
The situation in Burkina Faso warrants careful monitoring. President Traoré's comments about potentially withdrawing mining permits for non-compliant companies create an atmosphere of uncertainty, even if IAMGOLD isn't directly implicated. This highlights the volatile nature of operating in politically unstable regions.
Key considerations:
- Two-year anniversary of President Traoré's rule, potentially a time for policy shifts
- Focus on corruption and mining in the President's address suggests increased scrutiny of the sector
- IAMGOLD's positive relationship with the government is a mitigating factor, but political landscapes can change rapidly
While IAMGOLD's operations appear stable for now, investors should be aware of the broader political context. The company's ability to maintain good government relations and contribute to local communities will be important for long-term stability. Any changes in the political climate or mining regulations could have significant implications for IAMGOLD's operations and valuation.
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
Toronto, Ontario--(Newsfile Corp. - October 7, 2024) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) ("IAMGOLD" or the "Company") today shared an update on its operations in Burkina Faso in response to media reports following a radio interview that occurred on Saturday, October 5, 2024 with President Traoré of Burkina Faso.
President Traoré spoke on Radio Burkina to commemorate the two-year anniversary of his Presidency. During the interview, the President discussed several topics including corruption, security, transport, agriculture and mining, including a reference to the possible withdrawal of certain mining permits for companies operating in violation of the laws of Burkina Faso.
IAMGOLD is not aware of any potential challenge to, or withdrawal of, its permits for the Essakane mine, which continues to operate in compliance with them.
IAMGOLD continues to have a constructive and positive working relationship with the government, demonstrated by our respective coordination and partnerships on security and serving our local communities. Last month, the company received its 2024 dividend which was approved earlier in the year by the government. Essakane continues its impressive track record of safety, with attributable production this year expected to be between 380,000 to 410,000 ounces at cash costs of
About IAMGOLD
IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa. The Company has commenced production at the large-scale, long life Côté Gold Mine in partnership with Sumitomo Metal Mining Co. Ltd., which is expected to be among the largest gold mines in Canada. In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts. IAMGOLD employs approximately 3,600 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance practices, including its commitment to strive for the goal of Zero Harm®, in every aspect of its business. IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG).
IAMGOLD Contact Information
Graeme Jennings, Vice President, Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883
Toll-free: 1 888 464 9999
info@iamgold.com
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Risks, uncertainties, contingencies and other factors that could cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements include, without limitation: the ability of the Company to complete the repurchase of the Transferred Interest in the Côté Gold Mine; the ability of the Company to complete the sales of the remaining Bambouk Assets; the Company's business strategies and its ability to execute thereon; the ability of the Company to complete pending transactions; the development and execution of implementing strategies to meet the Company's sustainability vision and targets; security risks, including civil unrest, war or terrorism and disruptions to the Company's supply chain and transit routes as a result of such security risks, particularly in Burkina Faso and the Sahel region surrounding the Company's Essakane mine; the availability of labour and qualified contractors; the availability of key inputs for the Company's operations and disruptions in global supply chains; the volatility of the Company's securities; litigation; contests over title to properties, particularly title to undeveloped properties; mine closure and rehabilitation risks; management of certain of the Company's assets by other companies or joint venture partners; the lack of availability of insurance covering all of the risks associated with a mining company's operations; unexpected geological conditions; competition and consolidation in the mining sector; the profitability of the Company being highly dependent on the condition and results of the mining industry as a whole, and the gold mining industry in particular; changes in the global prices for gold, and commodities used in the operation of the Company's business (included, but not limited to diesel, fuel oil and electricity); legal, litigation, legislative, political or economic risks and new developments in the jurisdictions in which the Company carries on business; changes in taxes, including mining tax regimes; the failure to obtain in a timely manner from authorities key permits, authorizations or approvals necessary for transactions, exploration, development or operation, operating or technical difficulties in connection with mining or development activities, including geotechnical difficulties and major equipment failure; the inability of the Company to participate in any gold price increase above the cap in any collar transaction entered into in conjunction with certain gold sale prepayment arrangements; the availability of capital; the level of liquidity and capital resources; access to capital markets and financing; the Company's level of indebtedness; the Company's ability to satisfy covenants under its credit facilities; changes in interest rates; adverse changes in the Company's credit rating; the Company's choices in capital allocation; effectiveness of the Company's ongoing cost containment efforts; the Company's ability to execute on de-risking activities and measures to improve operations; availability of specific assets to meet contractual obligations; risks related to third-party contractors, including reduced control over aspects of the Company's operations and/or the failure and/or the effectiveness of contractors to perform; risks arising from holding derivative instruments; changes in U.S. dollar and other currency exchange rates or gold lease rates; capital and currency controls in foreign jurisdictions; assessment of carrying values for the Company's assets, including the ongoing potential for material impairment and/or write-downs of such assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; the fact that reserves and resources, expected metallurgical recoveries, capital and operating costs are estimates which may require revision; the presence of unfavourable content in ore deposits, including clay and coarse gold; inaccuracies in life of mine plans; failure to meet operational targets; equipment malfunctions; information systems security threats and cybersecurity; laws and regulations governing the protection of the environment (including greenhouse gas emission reduction and other decarbonization requirements and the uncertainty surrounding the interpretation of omnibus Bill C-59 and the related amendments to the Competition Act (Canada)); employee relations and labour disputes; the maintenance of tailings storage facilities and the potential for a major spill or failure of the tailings facilities due to uncontrollable events, lack of reliable infrastructure, including access to roads, bridges, power sources and water supplies; physical and regulatory risks related to climate change; unpredictable weather patterns and challenging weather conditions at mine sites; disruptions from weather related events resulting in limited or no productivity such as forest fires, flooding, heavy snowfall, poor air quality, and extreme heat or cold; attraction and retention of key employees and other qualified personnel; availability and increasing costs associated with mining inputs and labour, negotiations with respect to new, reasonable collective labour agreements and/or collective bargaining agreements may not be agreed to; the ability of contractors to timely complete projects on acceptable terms; the relationship with the communities surrounding the Company's operations and projects; indigenous rights or claims; illegal mining; the potential direct or indirect operational impacts resulting from external factors, including infectious diseases, pandemics, or other public health emergencies; and the inherent risks involved in the exploration, development and mining business generally. Please see the Company's AIF or Form 40-F available on www.sedarplus.ca or www.sec.gov/edgar for a comprehensive discussion of the risks faced by the Company and which may cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by forward-looking statements.
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FAQ
What is IAMGOLD's expected gold production from Essakane mine in 2024?
Is IAMGOLD's mining permit for Essakane at risk of being withdrawn?
What are the projected cash costs per ounce for IAMGOLD's Essakane mine in 2024?
Has IAMGOLD (IAG) received its 2024 dividend from Burkina Faso operations?
