Iamgold Partners with Eren Renewable Energy and Aemp to Develop Solar Power Capacity FOR Essakane MINE
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD PARTNERS WITH EREN RENEWABLE ENERGY
AND AEMP TO DEVELOP SOLAR POWER CAPACITY FOR ESSAKANE MINE
Toronto, Ontario, March 6, 2017 – 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
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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 s trategic 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 oper ational expertise.
For further information please contact:
Bob Tait, VP Investor Relations, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (647) 403-5520
Laura Young, Director Investor Relations, IAMGOLD Corporation
Tel: (416) 933-4952 Mobile: (416) 670-3815
Shae Frosst, Investor Relations Associate, IAMGOLD Corporation
Tel: (416) 933-4738 Mobile: (647) 967-9942
Toll-free: 1-888-464-9999 [email protected]
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.