Iamgold Announces Closing of Previously Announced Sale of Rosebel GOLD Mines to Zijin Mining
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED SALE OF
ROSEBEL GOLD MINES TO ZIJIN MINING
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
Toronto, Ontario, February 1 , 202 3 – IAMGOLD Corporation (TSX:IMG, NYSE:IAG) (“IAMGOLD” or the
“Company”) is pleased to announce that it has closed the previously announced sale of the Company’s 95% interest
in Rosebel Gold Mines N.V. ("Rosebel") to Zijin Mining Group Co. Ltd. (SH:601899, SEHK:2899) ("Zijin") for cash
consideration of approximately $360 million and release of IAMGOLD's equipment lease liabilities amounting to
approximately $41 million. The remaining 5% interest in Rosebel will continue to b e held by the Government of
Suriname.
“On behalf of the Company, we would like to thank the Rosebel team for their hard work and commitment,” said
Maryse Bélanger, Chair of the Board and Interim President and CEO . "With the completion of the sale of Roseb el,
IAMGOLD has achieved an important milestone in the Company’s strategy to create value for our stakeholders
through disciplined portfolio management to fund the Côté Gold Project. Côté Gold today is over 70% complete and
remains on track for production in early 2024. This transaction , in addition to the previously announced sale of
IAMGOLD’s West African gold assets and the financing agreement with Sumitomo, ensures the current remaining
funding requirements for completion of construction at Côté have been met."
About IAMGOLD
IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America
and West Africa. The Company is building the large-scale, long life Côté Gold project in Canada in partnership with
Sumitomo Metals & Mining of Japan, which is expected to commence production in early 2024. IAMGOLD employs
approximately 3,300 people and is committed to maintaining its culture of accountable mining through high standards
of Environmental , Social and Governance ("ESG") practices, including its commitment to 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) and is one of the companies on the Jant zi Social Index (“JSI”), a socially screened market
capitalization-weighted consisting of companies which pass a set of broadly based environmental, social and
governance rating criteria.
IAMGOLD Contact Information
Graeme Jennings, Vice President, Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883
Toll-free: 1 888 464 9999
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
All information included in this news release, including any information as to the Company’s future financial or
operating performance, and other statements that express management’s expectations or estimates of future
performance, including statements in respect of the prospects and/or development of the Company’s projects, other
than statements of historical fact, constitutes forward -looking information or forward -looking statements, within the
meaning of applicable securities laws (collectively referred to herein as “forward -looking statements”) and such
forward-looking statements are based on expectations, estimates and projections as of the date of this news release.
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
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limited to, the use of the words “may”, “on track”, “will”, “should”, “continue”, “expect”, "budget", "forecast",
“anticipate”, “estimate”, “believe”, “intend”, “plan”, "schedule", “guidance”, “outlook”, “potential”, “seek”, “target”,
“strategy”, or “project” or the negative or other variations of these words or comparable terminology. Forward-looking
statements contained in this news release include, without limitation, statements with respect to: the Company’s
guidance for production at its operating mine sites, including estimated timing and amounts thereof; total cash costs;
all-in sustaining costs; the estimation of m ineral reserves and mineral resources; the realization of mineral reserve
and mineral resource estimates; estimated costs of production; estimated impairment charges; expected capital
expenditures; the progress of development at Côté Gold, including progress of project expenditures and contracting
processes; and the timing for commencement of commercial production at Côté Gold.
The Company cautions the reader that 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, financial, operational and other risks, uncertainties, contingencies and other factors, including those
described below, which could cause actual results, perfo rmance or achievements of the Company to be materially
different from results, performance or achievements expressed or implied by such forward -looking statements and,
as such, undue reliance must not be placed on them. Such risks, uncertainties, contingen cies and other factors
include, but are not limited to: the Company's business strategies and its ability to execute thereon; the ability of the
Company to successfully complete construction of Coté Gold and commence commercial production, and
anticipated timing thereof; 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 or other commodities (such as diesel and electricity); the ongoing
impact of COVID-19 and its var iants on the Company and its workforce, the availability of labour and contractors,
key inputs for the Company and global supply chains; government actions taken in response to COVID-19, including
new variants of COVID -19, and any worsening thereof; legal, litigation, legislative, political or economic
developments in the jurisdictions in which the Company carries on business; the volatility of the Company's
securities; assessment of carrying values for the Company’s assets, including the ongoing potential for material
impairment and/or write-downs of such assets; title disputes; input in the 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 w ith the Company’s operations; unexpected geological conditions; increasing competition and
consolidation in the mining sector; changes in tax laws, including mining tax regimes; the failure to obtain in a timely
manner from authorities key permits, authori zations or approvals necessary for exploration, development or
operations at the Company’s operations; the inability to participate in any gold price increase above the cap in any
collar transaction entered into in conjunction with a gold sale prepayment arrangement; the availability of necessary
capital and impacts on the Company’s liquidity levels; access to capital markets and financing; the Company's level
of indebtedness; the Company's ability to satisfy covenants under its credit facilities and other debt instruments;
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 ability to execute on the Company's
de-risking activities and measures to improve operations; risks related to third -party contractors, including reduced
control over aspects of the Company's operations and/or the failure of contractors to perform as expected; risks
arising from holding derivative instruments; changes in U.S. dollar and other currency exchange rates, interest rates
or gold lease rates; capital and currency controls in foreign jurisdictions; 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; geotechnical difficulties and major equipment failure; security risks, including civil
unrest, war or terrorism; information systems security threats and cybersecurity; laws and regulations governing the
protection of the environment; 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, such as extreme and
unpredictable weather or seismic events; lack of reliable infrastructure, including access to roads, bridges, power
sources and water supplies; physical and regulatory risks related to climate change; attraction and retention of key
employees and other qualified personnel; availability and increasing costs associated with mining inputs and labour;
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the availability of qualified contractors and the ability of contractors to timely complete projects on acceptable terms;
the relationship with the communiti es surrounding the Company's operations and projects; indigenous rights or
claims; illegal mining; and the inherent risks involved in the mining industry generally. Please see the Company’s
AIF or Form 40-F available on www.sedar.com or www.sec.gov/edgar.shtml 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.
Although the Company has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward -looking statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements.
The Company disclaims any intention or obligation to upd ate or revise any forward-looking statements whether as
a result of new information, future events or otherwise except as required by applicable law.
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 www.iamgold.com/French/accueil/default.aspx.