IamGold close to expansion of Suriname Rosebel mine

(De Ware Tijd) PARAMARIBO – Gold multinational IamGold is one step closer to expansion of its operations at the Rosebel Goldmines N.V. (RGM) in Brokopondo. On its website, the mining company announced a “framework agreement” with the government for a “substantial” expansion in the areas of exploitation, infrastructure and energy. It involves a so-called “brown-field” operation, a term used in the gold sector to describe expansions around an existing mine. An entirely new operation for which a mine must be built is called a “green-field” operation. RGM’s original owner Cambior started the operations on a concession of 17,000 hectares. It is not clear how large the expansion will be. In its 2008 annual report, IamGold does mention an exploration concession of nearly 62,000 hectares around the area in which RGM was originally established. The extra exploration area was granted by the previous government. The 2008 annual report also mentions a second exploration area of 200,000 hectares, yet the exact number of concessions the company owns is unclear. The previous Minister of Natural Resources (NH), Gregory Rusland, says it was known that the government had granted the company other concessions besides RGM. Rusland could not confirm the information contained in the 2008 annual report, but he knows that Iamgold has been closing partnership deals with other concession holders active outside its own areas for exploration.