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Mining ramping up again at Rosebel

IAMGOLD (TSX: IMG) says mining operations have resumed in the southern pits at its Rosebel gold mine joint venture in Suriname, “in continued coordination” with the government and local stakeholders.
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Operations resume in southern pits at IAMGOLD’s Rosebel mine in Suriname

Staff reporter

The operation was suspended for security reasons in early August after an incident involving police where an unauthorised artisanal miner died and some equipment was damaged.

Rosebel partially resumed operations four weeks ago and was expected to be fully ramped up in 30 days, IAMGOLD said.

The company had last month reduced its 2019 attributable production guidance from 810,000-870,000 ounces to 765,000-810,000oz due to the situation at Rosebel.

It had let 325 contractors go in mid-August but said yesterday a recall plan was in place for all 325.

IAMGOLD said mine development activities at Saramacca, 25km away, had also resumed and an agreement was in place with the local community, enabling Saramacca ore to be hauled to the Rosebel mill in early November.

"We are pleased to have strengthened our partnership with the local communities and government through this process, and look forward to our continued work together," president Stephen Letwin said.

The government owns 5% of Rosebel and 30% of Saramacca.

IAMGOLD was reportedly in the acquisition sights of China National Gold Corp mid-year, with China Gold International Resources executive vice president Jerry Xie telling Mining Journal last week the rumour was indicative of the appetite of its parent company.

IAMGOLD shares have ranged from C$3.08-$5.55 over the past year and closed up 5.4% yesterday to $5.26, to capitalise it at $2.46 billion (US$1.86 billion).