Iamgold Corporation · TSX:IMG

Iamgold — Bank of America Merrill Lynch Global Metals & Mining Conference 2011

42 slides from Iamgold's conference presentation, May 11, 2011

  1. Slide 1: Bank of America Merrill Lynch Global Metals & Mining Conference 2011

    BANK OF AMERICA MERRILL LYNCH GLOBAL METALS & MINING CONFERENCE 2011 May 11, 2011 Gordon Stothart Executive Vice President & Chief Operating Officer 1 TSX: IMG NYSE: IAG

  2. Slide 2: Cautionary Statement

    Cautionary Statement This presentation contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements rega

  3. Slide 3: Zero Harm

    Zero Harm IAMGOLD’s Health, Safety and Sustainability performance ranks 3rd in top 60 Canadian companies HEALTH & SUSTAINABILITY SAFETY Framework Framework Leadership Leadership Accountability Governance Stakeholder People Engagement Risk Performance Management Social Processes Stewardship Environme

  4. Slide 4: IAMGOLD's Mining Interests

    IAMGOLD’s Mining Interests 2009 2010 2010 Gold Geographic IAMGOLD Operator Production Production Cash cost1 Mines Location Ownership (000oz) (000oz) ($/oz) Rosebel IAMGOLD Suriname 95% 392 395 484 Essakane IAMGOLD Burkina Faso 90% - 122 429 Mupane IAMGOLD Botswana 100% 51 57 941 Doyon Div. IAMGOLD C

  5. Slide 5: Solid Liquidity Position

    Solid Liquidity Position Financial Position $ Millions $ millions As at December 31 2010 2009 $800 $761 $700 Cash & Cash Equivalents 270.8 191.4 $613 $593 $600 $578 350 Gold Bullion at Market 140.5 108.7 $500 332 $400 350 350 Unused Credit Facility 350.0 122.6 $300 $200 411 Subsequent events in 2011

  6. Slide 6: Competitive Advantages

    Competitive Advantages  Superb senior leadership  Proven operational expertise  Strong balance sheet  Base of long-life, low-cost, world-class mines  Disciplined growth strategy  Experienced in key regions with good growth potential  Technically strong and mobile workforce 66

  7. Slide 7: Strategic Focus

    Strategic Focus BROWNFIELD GREENFIELD OPPORTUNITIES OPPORTUNITIES ESSAKANE (90%), EXPLORATION AT MINES WE OPERATE ROSEBEL (95%) & & FUTURE WESTWOOD (100%) ACQUISITIONS TARKWA & NIOBEC (100%) DAMANG (18.9%) SADIOLA (41%) NIOBIUM MINE & YATELA (40%) WORKING INTERESTS IN GHANA JOINT VENTURES IN MALI OP

  8. Slide 8: Low Cost Operating Model

    Low Cost Operating Model IAMGOLD Mining Costs versus Regional Peers ($/tonne) 6 5.21 5 4 3.72 3.50 2.90 3 2.74 2.52 2.54 2.58 2 1.80 1.91 1.50 1.60 1.60 1.70 1.70 1.35 1 0.85 0.93 0 Based on IAMGOLD data and publicly available 2010 disclosure. 8

  9. Slide 9: Focus on Growth

    Focus on Growth ROSEBEL (95%) ESSAKANE (90%) WESTWOOD (100%) 9

  10. Slide 10: Rosebel Suriname

    Rosebel SURINAME IMG Ownership: 95%  Record 4th quarter production of 119,000 ozs and Attributable Reserves & Resources (oz) annual production of 395,000 ozs in 2010 P&P Reserves1 5,892,000  Contributes 40+% of attributable production M&I Resources2 7,531,000 Inferred Resources 609,000  Fourth mi

  11. Slide 11: Rosebel Expansion

    Rosebel Expansion Current configuration: Expansion: Result:  Throughput 12 Mtpa of soft rock;  Mill throughput maintained at  Reduces long-term fixed costs by <6Mtpa of hard rock 12-14 Mtpa (even with increased accelerating production  Strip ratio: 3+ hard rock volumes)  Cash flow brought forwa

  12. Slide 12: Rosebel Exploration

    Rosebel Exploration 2010 Brownfield exploration program: Ore Bodies  94,000+ m drilled J-Zone  Important extensions to Koolhoven & Royal Koolhoven Pay Caro & E. Pay Caro Hill Rosebel  1.1 Moz added to reserves net of depletion Royal Hill Roma Mayo 2010 Greenfield exploration focused on Charmagne

  13. Slide 13: Essakane Burkina Faso

    Essakane BURKINA FASO IMG Ownership: 90% Attributable Reserves & Resources (oz) P&P Reserves1 4,015,000 M&I Resources2 4,351,000 Inferred Resources 1,503,000 Attributable production (oz) 2010 122,000 LOM(E) 315,000 Cash Cost ($/oz) 2010 $429 Estimated Mine Life (years) 12+ Attributable Gold Producti

  14. Slide 14: Essakane Expansion

    Essakane Expansion Current configuration: Expansion: Result:  Processing first 3 years of soft rock  Based on concept study, doubling  Reduces long-term fixed costs by at 9Mtpa; subsequent 9 years of the hard rock processing capacity to accelerating production hard rock at 5.4 Mtpa 10.8 Mtpa  Br

  15. Slide 15: Essakane Exploration

    Essakane Exploration EMZ north extension EMZ East Dump Au≥ 117 ppb (in soils) West Dump Lay down Offices Air Strip Falagountou TSF EMZ South extension 15

  16. Slide 16: Westwood Canada

    Westwood CANADA IMG Ownership: 100% Production start - 2013 Resources (oz) Shaft sinking Indicated Resources1 269,000 began Jul. ‘09 Inferred Resources1 3,467,000 2010 - Expenditures $94.9M Estimated annual production (oz)  Shaft sinking to 1,063 m LOM average 186,000  Ventilation raise boring to

  17. Slide 17: Sadiola Mali

    Sadiola MALI IMG Ownership: 41% JV Partner: AngloGold Ashanti (41%) Attributable Reserves & Resources (oz) P&P Reserves1 2,297,000 M&I Resources2 3,481,000 Inferred Resources 991,000 Attributable production (oz) 2010 118,000 Cash Cost ($/oz) 2010 $653 Estimated Mine Life (years) 8+ (including Sulphi

  18. Slide 18: Gold Production Profile

    Gold Production Profile 3-Year Attributable Production Profile of IAMGOLD-Operated Mines 000 ounces 1,000 900 800 380-400 700 370-390 600 310-330 Essakane 122 Rosebel 500 Westwood 400 360-380 Mouska Mupane 300 395 360-380 395-410 200 130-150 100 33 25-30 57 55-60 30-35 40-45 15-25 0 2010 Actual 2011

  19. Slide 19: Niobec: Long Life, High Margin Producer

    Niobec: Long Life, High Margin Producer $/kg Niobec Consistent Operating Results Mkg  ~ 9% share of global niobium $40 1.6 market $35 22 19 18 19 19 19 17 1.4 20 $30 1.2 1.2 1.2  Over 30 years history of reserve 1.1 1.1 $25 1.0 1.0 1.0 1.0 renewal 0.9 $20 0.8 $15 18 19 18 18 18 20 0.6  Reserves u

  20. Slide 20: Independent Technical Report confirms potential value of Niobec

    Independent Technical Report confirms potential value of Niobec Preliminary Economic Assessment (NI 43-101 Compliant)  691% increase in M&I mineral resource to 1.93 Bkg  Potential increase in annual production to 15 Mkg  Remaining mine life 40+ yrs at triple current production  Potential for > 5

  21. Slide 21: Niobium: A Rare Metal with Unique Properties

    Niobium: A Rare Metal with Unique Properties Used in the production of high-quality steel Alloying agent that strengthens and lightens steel and improves durability and flexibility Global demand growing at 10% CAGR over the past decade  Strong growth in demand for high-quality steel  Emerging mark

  22. Slide 22: Niobec: Plan View

    Niobec: Plan View GROWTH POTENTIAL Niobium exploration potential Rare earth elements Existing block model and shaft 22

  23. Slide 23: 2011 Exploration Outlook

    2011 Exploration Outlook 2011 greenfields budget: $43.5M  118,000 m drilling  46,425 m AC drilling at Essakane Essakane  New drill targets and potential expansion of Essakane’s reserves & resources  High priority target identifed south of Falagountou deposit Rosebel Regional  Extensive explorat

  24. Slide 24: Acquisitions

    Acquisitions Primary focus on known regions in West Africa, South America and Canada:  Regional Continuity  Social & Fiscal Stability  Long-Term Prospectivity & Opportunities Target: 150,000+ ounces of gold per year, 2Moz+ reserves 24

  25. Slide 25: 2011 Guidance

    2011 Guidance 2010 Actual 2011 Guidance Gold Production (000 oz) 967 1,100-1,200 Cash Costs (US$/oz) 574 565-595 Niobium Production (Mkg) 4.4 4.5-5.0 Niobium Operating Margin (US$/kg) 18 15-17 25

  26. Slide 26: Market Capitalization vs. Gold Production

    Market Capitalization vs. Gold Production ($ Billions ) Adjusted Market Cap (MC) of IAMGOLD vs. peers with 1 million+ ounce production2 MC/Prod. Market cap1 ($/oz) ($ Billions) IAMGOLD Market cap1 8.58 60 15,400 Less: 15,000 Niobec 1.0 41.6 40 Minority Interests 0.7 9,600 8,800 10,000 7,200 Cash 0.4

  27. Slide 27: Corporate Presentation Contacts

    CORPORATE PRESENTATION Contacts: Bob Tait, VP Investor Relations T: 416 360 4743 C: 647 403 5520 Laura Young, Director Investor Relations T: 416 933 4952 IAMGOLD Corporation 401 Bay Street, Suite 3200 Toronto, ON M5H 2Y4 Canada E: info@iamgold.com 27

  28. Slide 28: Appendix

    # IAMGOLD’ CORPORATION APPENDIX

  29. Slide 29: Corporate Overview

    Corporate Overview IAMGOLD’s growth is strategically focused in West Africa, select countries in South America and in the Canadian province of Québec  8 Gold mines  1 Niobium mine  Westwood gold development project  20+ exploration projects  Commitment to growth 29

  30. Slide 30: Planned Capital Expenditures

    Planned Capital Expenditures millions $ 400 350 25 300 54 250 191 132 200 92 150 23 38 100 139 146 98 13 50 95 20 13 39 5 16 22 4 15 0 Essakane Westwood Sadiola Rosebel Niobec Mupane Other 2011 2012 2013 30

  31. Slide 31: 2011 Capital Expenditures

    2011 Capital Expenditures Westwood - $146M  Deepening shaft  Developing drift levels for future mining 2011 Planned Capital Expenditures of Essakane - $139M $460M  Expansion construction to start in Q4’11 (in millions $) based on favourable outcome to expansion feasibility study $146 Rosebel - $9

  32. Slide 32: Reserves & Resources Growth

    Reserves & Resources Growth Moz Moz Moz Attributable Proven and Attributable Measured & Attributable Probable Reserves 1 22 22 Indicated Resources 9 Inferred Resources 1.6 Moz 20 20 +8% 8 18 18 7 16 1.9 Moz 16 +13% 14 14 6 12 12 5 21.4 8.9 10 10 19.8 4 8.0 8 16.4 8 14.5 3 6 6 2 4 4 2 2 1 0 0 0 2009

  33. Slide 33: Mouska Canada

    Mouska CANADA IMG Ownership: 100% Reserves & Resources (oz) P&P Reserves1 73,000 M&I Resources2 272,000 Inferred Resources 529,000 Attributable Production (oz) 2010 33,000 2009 109,000  Began processing stock-piled ore in September ’10 Cash Cost ($/oz)  Paste backfill from Doyon paste plant 2010 $

  34. Slide 34: Mupane Botswana

    Mupane BOTSWANA IMG Ownership: 100% Attributable Reserves & Resources (oz) P&P Reserves1 130,000 M&I Resources2 238,000 Inferred Resources 77,000 Attributable Production (oz) 2010 57,000 2009 51,000  Working with local management to maximize cash flows going forward Cash Cost ($/oz)  Benefit from

  35. Slide 35: Yatela Mali

    Yatela MALI IMG Ownership: 40% JV Partner: AngloGold Ashanti (40%) Attributable Reserves & Resources (oz) P&P Reserves1 78,000 M&I Resources2 129,000 Inferred Resources 49,000 Attributable Production (oz) 2010 60,000  Drilling extended mine life to at least 2011 2009 89,000  Exploring Yatela, Alam

  36. Slide 36: Tarkwa Ghana

    Tarkwa GHANA IMG Ownership: 18.9% JV Partner: Gold Fields Ltd. (71.1%) Reserves & Resources (oz) P&P Reserves1 1,863,000 M&I Resources2 2,409,000 Inferred Resources 486,000 Attributable Production (oz) 2010 139,000 2009 125,000 Cash Cost ($/oz) 2010 $605 2009 $513 Estimated Mine Life (years) 13+ 1 R

  37. Slide 37: Damang Ghana

    Damang GHANA IMG Ownership: 18.9% JV Partner: Gold Fields Ltd. (71.1%) Reserves & Resources (oz) P&P Reserves1 401,000 M&I Resources2 632,000 Inferred Resources 260,000 Attributable Production (oz) 2010 43,000 2009 38,000 Cash Cost ($/oz) 2010 $662 2009 $619 Estimated Mine Life (years) 9+ 1 Reserves

  38. Slide 38: Mali – Kalana JV

    Mali – Kalana JV 2011 Budget - $7.9 million  387 km2 Mining Permit expires 2033  Avnel - IMG Option Agreement signed GUINEA MALI August 2009 Kalanako  IAMGOLD can earn a 51% interest in Avnel’s share of SOMIKA (80%); Malian Dadjan High priority Government (20%) Kalana 60km²  $11M expenditure in

  39. Slide 39: Mali – Siribaya JV

    Mali – Siribaya JV 2011 Budget – C$3.0+ million Senegal  563 km2 land package  Maiden Resource Guemedji Trend  Indicated: 308Koz at 2.39 g/t Au Mali Boto  Inferred: 70Koz at 2.29 g/t Au (100% IMG) SiribayaTrend  Merrex - IMG Option Agreement Zone 1B Resource Area signed December 2008 Siribaya 

  40. Slide 40: Senegal – Daorala-Boto & Bambadji

    Senegal – Daorala-Boto & Bambadji Sabodala – 2 Moz Loulo – 6 Moz 315 km² in World-Class District DAORALA Yalea – 2.4 Moz Daorala-Boto: 100% IAMGOLD Massawa – 4.5 Moz Tabakoto – 2.8 Moz Gounkoto – 2.65 Moz  Boto located 25 km from Siribaya BAMBADJI JV  Established non-compliant mineral inventory Se

  41. Slide 41: Senior Management Team

    Senior Management Team STEVE LETWIN GORDON STOTHART CAROL BANDUCCI LARRY PHILLIPS President & CEO EVP & COO EVP & CFO EVP, Corporate Affairs MIKE DONNELLY PAUL OLMSTED JEFF SNOW LISA ZANGARI SVP, Exploration SVP, Corp.Development SVP, General Counsel & SVP, Human Resources Corporate Secretary 41

  42. Slide 42: Contacts

    Contacts: Bob Tait, VP Investor Relations T: 416 360 4743 C: 647 403 5520 Laura Young, Director Investor Relations T: 416 933 4952 IAMGOLD Corporation 401 Bay Street, Suite 3200 Toronto, ON M5H 2Y4 Canada E: info@iamgold.com 42TSX: IMG NYSE: IAG

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