Slide 1: Niobec
Niobec ....
Slide 2: Carol Banducci, EVP & CFO
Carol Banducci Executive Vice President & Chief Financial Officer ® ®
Slide 3: Caution concerning forward-looking statements
Caution concerning forward-looking statements 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 li
Slide 4: IAMGOLD Management
IAMGOLD Management Name Title Carol Banducci EVP & CFO Denis Miville-Deschênes SVP, Project Development Steve Eddy Director, Corporate Development Réjean Sirois Manager, Mining Geology ® Page 4
Slide 5: Surfacing Value at Niobec
Surfacing Value at Niobec • Strong niobium market ˃ Growing global demand ˃ Constrained supply ˃ Stable pricing throughout economic cycles and positive outlook • Opportunity to enhance Niobec value ˃ Increase M&I resources by 691% to 1.93 billion kilograms ˃ Triple annual production to 15 million ki
Slide 6: Presentation Overview
Presentation Overview 1. Niobium Market 2. Niobec Mine 3. Value Enhancement Initiatives ® Page 6
Slide 7: Niobium Applications
Niobium Applications Ferroniobium (mix of niobium and iron) World Consumption of Ferroniobium by End-Use (2010) 13% 29% 10% 24% • Steel Industry 24% ˃ High-strength, low-alloy (“HSLA”) ˃ Automobile, Pipeline, Structural Structural Pipe Auto Stainless Other • Stainless & Heat Resistant Source: Niobec
Slide 8: Niobium Demand
Niobium Demand FeNb Steel consumption (tonnes) (Mt) 145,000 2000 2011+ : Growth 10% 125,000 1800 105,000 1600 02-06: + 17.3% 85,000 1400 65,000 1200 93-02 : + 8.3% 45,000 1000 82-93 : Growth 0.2% 25,000 800 5,000 600 '82 '84 '86 '88 '90 '92 '94 '96 '98 '00 '02 '04 '06 '08 '10 '12 '14 FeNb Consumptio
Slide 9: Niobium Integral to high-quality steel
Niobium Integral to high-quality steel Autos ØRESUN Bridge AUTOS ØRESUN $9 Nb 0.022% Nb Weight Weight 100 kg 15,000 t Fuel Efficiency Cost Savings 5% km/l $25 M ® Page 9
Slide 10: Niobium Demand
Niobium Demand Growth in niobium intensity usage in manufacturing is increasing FeNb/ t steel Steel Production (Mt) 65 63 1,450 62 60 1,350 57 55 55 54 1,250 50 1,150 45 44 44 44 1,050 42 42 40 40 950 35 850 ® 30 750 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 FeNb Intensity Steel Production Page 10
Slide 11: Market update
Market update FeNb Intensity (g FeNb/t Steel) 140.0 120.0 100.0 80.0 60.0 40.0 20.0 0.0 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 ® North America Japan Europe China Page 11
Slide 12: Niobium Supply (% of global production)
Niobium Supply (% of global production) CBMM Reserves: 438 tonnes 83 8 Catalão Reserves: 5.1 tonnes 8 Niobec Reserves: 45.7 tonnes 1 ® Other Page 12
Slide 13: Niobium Pricing
Niobium Pricing • Pricing expected to remain above $30 / kg in short term • Longer term average price expected to be $45 / kg Base Case Forecast $50 $45 40 $40 37 36 45 45 45 45 45 45 45 45 45 35 $35 33 40 $30 $25 $20 15 $15 $10 $5 $0 ® '06 '07 '08 '09 '10 '11E '12E '13E '14E '15E '16E '17E '18E '19
Slide 14: Réjean Sirois
Réjean Sirois Manager, Mining Geology ® ®
Slide 15: Niobec Mine
Niobec Mine • Saguenay: strong Industrial base, skilled workforce and sound infrastructure • Quebec ranked as 4th best mining jurisdiction in the world • Niobec employs 395 people Niobec ® Page 15
Slide 16: Niobec Mineralization
Niobec Mineralization Nb2O REE Zone 5 potential Niobec Mine ® Page 16
Slide 17: UG DEEP DDH Program
UG DEEP DDH Program Surface Niobec 3D Resources Mined out model Blocks 1 to 3: Reserves (looking NE) Blocks 4 to 6: Reserves & resources Blocks 7 to 9: Resources Blocks 10 to 12 Proposed DEEP Exploration Program: 7 DDH for 6,000 m ® Total cost of $420,000 including assays at the Niobec laboratory Pa
Slide 18: Denis Miville-Deschênes
Denis Miville-Deschênes Senior Vice President, Project Development ® ®
Slide 19: Niobec Mine
Niobec Mine ® Page 19
Slide 20: Niobec – Health and Safety Highlights
Niobec – Health and Safety Highlights Continuing commitment to Zero Harm Injury Rate (DART) Historical performance • Consistent injury reduction over the 12 long term 10 • 2010 experienced a rise in injury rate 8 after fatality 6 Niobec Vision 4 • Become an injury free operation 2 0 Prevention focus
Slide 21: Niobec Production
Niobec Production Annual production growth of 7.3% per year since 2000, with an average grade of 0.66% Nb Production Grade (tonnes) (% Nb2O5) 6,000 0.8 5,000 0.75 4,300 4,396 4,400 4,163 4,106 4,000 3,750 0.7 3,339 3,344 3,417 3,006 3,000 0.65 2,170 2,000 0.6 1,000 0.55 ® 0 0.5 '00 '01 '02 '03 '04 '
Slide 22: Niobec Production
Niobec Production Historical Production and Cash Flow Summary 2007A 2008A 2009A 2010A 2011F Tonnage (‘000t) 1,530 1,801 1,773 1,792 Grade Milled (%) 0.65% 0.62% 0.61% 0.61% Niobium Production 4,300 4,396 4,106 4,400 4,500 - 5,000 (‘000 kg) Niobium Sales 4,337 4,201 4,347 4,300 (‘000 kg) Revenue ($M)
Slide 23: Niobec Resources
Niobec Resources % Increase Contained in Tonnes Grade Nb2O5 Contained (000) % Nb2O5 (Mkg) Nb2O5 IAMGOLD As at December 31, 2010 Measured 16,571 0.54 90.0 Indicated 29,145 0.53 153.8 Measured and Indicated 45,716 0.53 243.8 Inferred 59,672 0.53 316.3 P.E.A. As at April 1, 2011 Measured 288,930 0.43 1
Slide 24: Niobec Mine Expansion
Niobec Mine Expansion • Strategic Resource Development Plan: ˃ 5-year drilling program ˃ Full delineation of niobium resource ˃ Evaluation of i) Base Case mining method vs. ii) Block Caving and iii) Open Pit • Goals: ˃ Reduce extraction costs ˃ Increase annual production ˃ Grow mineral resources ˃ E
Slide 25: Niobec: Open Pit Potential
Niobec: Open Pit Potential • To process 380 Mt at approximately 10 Mtpa • Increases mine life beyond 40 years • Significant cost advantage • Proven mining technology in known ore body reduces risk Section View 15,750N Road T.S.F. MILL Limestone 2T 3T 4T 560m Pit wants to go deeper. Could add over 10
Slide 26: Niobec: Block Caving Potential
Niobec: Block Caving Potential • Attractive opportunity to extract the ore in upper part of mine • Recovers most of the pillars left behind by previous mining • Block caving has been used in large scale mining projects throughout the world ® Page 26
Slide 27: Steve Eddy
Steve Eddy Director, Corporate Development ® ®
Slide 28: Financial Analysis
Financial Analysis Block Caving Open Pit Tonnes processed (millions) 380 380 Strip ratio − 3.9 Estimated average annual mill throughput 10 million 10 million (tonnes) Estimated average annual production 13 15 (tonnes of kg Nb ) Operating margin after expansion ($/kg) 28 28 Estimated capital expendit
Slide 29: Réjean Sirois
Réjean Sirois Manager, Mining Geology ® ®
Slide 30: REE Sample - 1985 drill holes - Average grade
REE Sample - 1985 drill holes - Average grade 2009 MARCH 2011 Gross Gross REE Grade Price Price Value Value Element % $/kg $/t $/kg $/t Cerium (Ce) 0.84 4 34 95 798 Lanthanum (La) 0.49 6 29 94 460 Praseodymium (Pr) 0.12 16 19 140 168 Neodymium (Nd) 0.37 16 59 152 562 Samarium (Sm) 0.05 5 3 92 46 Dys
Slide 31: Carol Banducci
Carol Banducci Executive Vice President & Chief Financial Officer ® ®
Slide 32: Niobec Value Crystallization
Niobec Value Crystallization • Sell a 10 – 20% minority stake • Unlock value by completing the Strategic Resource Development Plan (“SRDP”) • Evaluate strategic alternatives ® Page 32
Slide 33: Niobec
Niobec ....