Iamgold Corporation · TSX:IMG
Iamgold — Corporate Update (January 2010)
62 slides from Iamgold's corporate update, Jan 25, 2010
Slide 1: Welcome to Sadiola and Yatela Gold Mines
Welcome to Sadiola and Yatela Gold Mines
Slide 2: Visit Program
2 Visit Program Tuesday 26th January 2010: 10H30 Arrival and transfer to Sadiola club 10H45 Refreshments 11H00 Welcome and Information Presentation 12H30 Light Lunch 13H00 Visit to Sadiola pits 14H00 Visit to Exploration geology 14H30 Travel to Yatela 15H00 Refreshments at Yatela Club 15H15 Yatela p
Slide 3: Visit Program (Cont)
3 Visit Program (Cont) Wednesday 27th January 2010: 06H30 Breakfast at Sadiola club 07H00 Transport to Sadiola Airstrip Departure for Bamako
Slide 4: Introduction: Presenters
4 INTRODUCTION PRESENTERS § Brian Chandler – SVP, Africa § Terry Mulpeter - GM, Sadiola and Yatela § Sadiola and Yatela representatives § Riaan Lombard Mining Manager § Yves Ilunga Finance Manager § Mark Kenwright Geology Manager § Adama Coulibaly Process plant manager Sadiola § Gerrie Barnard Proce
Slide 5: Table of Contents
5 INTRODUCTION TABLE OF CONTENTS § SADIOLA § YATELA § Organization § Organization § Mining § Mining § Milling § Milling § Exploration
Slide 6: Sadiola & Yatela Gold Mines Analyst Tour
January 25, 2010 Sadiola & Yatela Gold Mines Analyst Tour January 2010 Brian Chandler S.V.P. Africa
Slide 7: Sadiola, Yatela and West Africa operations map
SADIOLA (41%) YATELA (40%) ESSAKANE DAKAR OFFICE KALANA JV MERREX JV TARKWA (18.9%) DAMANG (18.9%) MUPANE Operations Development Projects Exploration
Slide 8: Sadiola
8 SADIOLA • Location • History • Human Resources • Health, Safety & Sustainability
Slide 9: IAMGOLD's Strategic Presence in West Africa
9 IAMGOLD’s Strategic Presence in West Africa West Africa Office Operating Mine Development Project Exploration Project BOTO MERREX KALANA § IAMGOLD is a leading West Africa producer § 20-year history in West Africa § 495,000 oz of gold production from Africa in 2008
Slide 10: Sadiola & Yatela History
10 Sadiola & Yatela MALI History §1987 Exploration by Government of Mali began §1990 IAMGOLD obtained rights and explored Sadiola Hill and surrounding areas §1992 IAMGOLD and AngloGold Ashanti (then Anglo American) joint venture to build the mine site §1994 Joint Venture granted Sadiola Mining Permi
Slide 11: Sadiola Gold Mine Overview
Sadiola Gold Mine MALI 7 Overview Located in far south west Mali, West Africa Sadiola ownership: IAMGOLD 41%, AngloGold Ashanti 41%, Government of Mali 18% (International Finance Corporation owned 6% until 2009) Sadiola mining permit covers an area of 302 km² 41% IMG Ownership JV: AngloGold As
Slide 12: Percentage of IAMGOLD Production
Sadiola & Yatela MALI 12 Percentage of IAMGOLD Production 1,000 (000’s ounces) SLEEPING GIANT 900 DOYON 800 700 ROSEBEL 600 500 MUPANE 400 DAMANG TARKWA 300 YATELA 200 49% 100 SADIOLA 24% 0 2004 2005 2006 2007 2008 2009E
Slide 13: 2009 Production & CapEx
Sadiola & Yatela MALI 14 2009 Production & CapEX 1.0% 14% 0.3% 9% 76% 98.8%
Slide 14: Human Resources
Sadiola MALI 15 Human Resources Employees § Approximately 1,680 employees in 2009 5% 43% 95% 57% Employees: Employees Contractors
Slide 15: Health, Safety & Sustainability
Health, Safety & Sustainability 16 Continuing Commitment to Zero Harm 2009 HIGHLIGHTS SAFETY Reduction in accident severity and frequency, Zero fatalities ENVIRONMENT Zero significant incidents, continued environmental management COMMUNITY Active social program near mine site, Malaria control & educ
Slide 16: Sadiola and Yatela community program (IDAP)
Sadiola and Yatela community program (IDAP) Supports Education – building of schools, provision of equipment, support of teachers etc. Healthcare – Clinic, provision of medicines, vaccines, malaria control Water – provision of potable water, and infrastructure Local employment – hunters, fence patro
Slide 17: Official Opening Ceremony of Yatela Dam
OFFICIAL OPENING CEREMONY OF YATELA DAM Yatela village dam
Slide 18: Mining
19 MINING • Geology • Reserves & Resources • Production • Continuous Improvement
Slide 19: Sadiola Geology
Sadiola MALI 20 Geology § The Sadiola Deposit lies within the Birimian Inlier of the Kayes – Keneba Window (Proterozoic) § The deposit is Mesothermal Shear hosted, originating from the Sadiola Fracture Zone, a local splay off the regionally significant Senego-Malian Shear Zone § Gold occurs dissemin
Slide 20: Sadiola Plan View
Sadiola MALI 21 Plan View § Main Lithological types: • Meta sandstones, Dolomitic • Marbles and Intrusive Diorites § Principal Structures: • Sadiola Fracture Zone and NNE • Structures § Grade Distribution: • Disseminated in the marble and • Along structural controls
Slide 21: Mining Equipment
Sadiola MALI 22 Mining Equipment Production Fleet § 2 x O&K RH120E Excavator § 1 x O&K RH120C Excavator § 21 x CAT 777 Haul Truck § 2 x CAT 992 Loader § 2 x Tamrock Pantera 1500 § 1 x Drilltech D45KS – Blasthole Drill § 2 x Drilltech D45KS – Grade Control
Slide 22: Reserves & Resources Update – December 31, 2009
Sadiola MALI 23 Reserves & Resources Update – December 31, 2009 Sadiola Tonnage Grade Au December 31, 2009 (000) (g/t) (000 oz) Proven Reserves 9,998 2.5 795 Probable Reserves 39,517 2.2 2,759 Measured Resources 24,922 1.5 1,185 Indicated Resources 88,857 1.8 5,146 Inferred Resources 49,572 1.8 2,82
Slide 23: Attributable Reserves & Resources Update
Sadiola MALI 24 Attributable Reserves & Resources Update – December 31, 2009 Sadiola Tonnage Grade Au December 31, 2009 (000) (g/t) (000 oz) Proven Reserves 4,099 2.5 326 Probable Reserves 16,202 2.2 1,131 Measured Resources 10,218 1.5 486 Indicated Resources 36,432 1.8 2,110 Inferred Resources 20,3
Slide 24: Changes in Reserves & Resources
Sadiola MALI 25 Changes in Reserves & Resources § Increased reserves by 1.0M oz § Increased inferred resources by 47% § Increase due to: • Gold Price ($700 to $1,000) • Updated Models • Sadiola Deeps re-classified after positive Pre-Feasability • Reclassification of the hard stockpiles as ore § Angl
Slide 25: Mine Production
Sadiola MALI 26 Mine Production 30 25 20 15 10 5 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Waste Ore
Slide 26: Mining Cost per Tonne
Sadiola MALI 27 Mining Cost per Tonne $/t Mining Cost 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Slide 27: Cumulative Production & Reserves (100% Basis)
Sadiola MALI 28 Cumulative Production & Reserves (100% Basis) 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Cumulative Production Sadiola Reserves
Slide 28: Sadiola Deep Sulphide Project
Sadiola Deeps MALI 29 Sadiola Deep Sulphide Project § 3 Moz hard rock resource below Sadiola main pit § Pre-Feasibility Study approved by SEMOS in November 2009 § The 2009 Pre-feasibility Study projects production increase to 400 - 500kozs per year from 2013 to 2018 with an end of life in 2019 § Inc
Slide 29: Sadiola Deeps Pre-feasibility Summary
Sadiola Deeps MALI 30 Sadiola Deeps Pre-feasibility Summary1 MINEABLE RESOURCE BY CATEGORY1 (Sadiola Deep Pit Only) Constrained Resource by Category Saprolite Saprolite Hard Hard Total (at $800/oz) Oxide Sulphide Oxide Sulphide Measured & Indicated Tonnes (kt) 3,022 1,628 670 27,982 33,302 Resources
Slide 30: Capital Cost Estimate
Sadiola Deeps MALI 31 Capital Cost Estimate Preliminary initial capital cost estimate includes: § Capitalized pit pre-stripping § Feasibility study cost & detail engineering Category 2010 2011 2012 Total ($millions) Mine Equipment 70 8 78 Pit Pre-Stripping 33 32 65 Plant 20 85 57 162 Tailings 8 8 Po
Slide 31: Major Mining Equipment
Sadiola Deeps MALI 32 Major Mining Equipment Mining Equipment Item Unit Cost Nb Units (CIF k US$) Hydraulic Excavator - 20m3 bucket 5,775 2 Wheel Loader - 18m3 bucket 4,095 1 Mining Truck - 140t class 2,205 16 Track Dozer - 13.5m3 blade 656 4 Wheel Dozer - 10.1m3 SU blade 908 1 Motor Grader - 16ft b
Slide 32: Deep Sulphide Pit Design
Sadiola Deeps MALI 33 Deep Sulphide Pit Design Central Cut 740m long South Cut 140m deep 1250m long 310m deep North Extension 250m long 70m deep
Slide 33: Deep Sulphide Pit Design
Sadiola Deeps MALI 34 Deep Sulphide Pit Design • Section 5650N Final Design (red), Shell (blue), Existing Pit (light blue) • Average stripping ratio from surface (RL130) to RL-20 is 7.8
Slide 34: Deep Sulphide Mine Plan
Sadiola Deeps MALI 35 Deep Sulphide Mine Plan § Maximum mining rate of 30.6 Mt/yr § Two active pushbacks at a time § Vertical advance of 40 m/yr § 30.1 Mt pre-strip (mid 2011 to mid 2012) § Average stripping ratio of 3.1:1
Slide 35: Milling
MILLING z ° < ca ° a a ° u
Slide 36: Processing Plant
Sadiola MALI 37 Processing Plant § Two identical parallel circuits § Production rate of 5.3 Mtpa § In 2002 recovery increased on the sulphidic saprolite ore from approximately 65% to 75% § In 2008 gravity circuit added, improved recovery on high-grade oxide ores from satellite pits which contain a s
Slide 37: Existing Plant Flowchart
Sadiola MALI 38 Existing Plant Flowchart
Slide 38: Oxide Plant Flowchart
Sadiola Deeps MALI 39 Oxide Plant Flowchart
Slide 39: Hard Ore Plant Flowchart
Sadiola Deeps MALI 40 Hard Ore Plant Flowchart
Slide 40: Historical Plant Production
Sadiola MALI 41 Historical Plant Production
Slide 41: Plant Production – Historical & Projected
Sadiola Deeps MALI 42 Plant Production – Historical & Projected
Slide 42: Historical Gold Production (38% Attributable)
Sadiola MALI 43 Historical Gold Production (38% Attributable) 250 200 150 100 50 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Slide 43: Forecasted Gold Production (at 100%)
Sadiola MALI 44 Forecasted Gold Production (at 100%) 600,000 500,000 400,000 300,000 200,000 100,000 - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Sadiola L3 only Sadiola L3 and Deep Sulphides
Slide 44: Historical & Projected Attributable Production
Sadiola MALI 45 Historical & Projected Attributable Production 250 200 150 100 50 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Production Deep Sulphides 41% Share
Slide 45: Cash Cost & Margin
Sadiola MALI 46 Cash Cost & Margin 1,200 1,000 800 600 400 200 0 2002 2003 2004 2005 2006 2007 2008 2009 Cash Cost Margin
Slide 46: 2009 Cost Breakdown and 2010 Capex Breakdown
Sadiola MALI 47 2009 Cost Breakdown 2010 Capex Breakdown $3.7M 35% $1.1M 28% 11% 10% 16% $3.4M Contractors Fuel Reagents Deep Sulphide Feasibility Labour Capitalized Exploration Other Other
Slide 47: IAMGOLD 2010 Strategic Priorities
Sadiola MALI 48 IAMGOLD 2010 Strategic Priorities § Complete the Deep Sulphide Feasibility Study § Complete the exploration program as designed to identify new potential resources § Reduce existing mining costs § Improve management of coarse rock to reduce costs, improve mill reliability § Establish
Slide 48: Yatela
YATELA • Overview • Mining Fleet • Reserves & Resources • Production • Strategic Objectives
Slide 49: Yatela Gold Mine Overview
Yatela Gold Mine MALI 43 Overview Located in Mali, West Africa 25km North of Sadiola Gold Mine Yatela ownership: IAMGOLD 40%, AngloGold Ashanti 40%, Government of Mali 20% Yatela Mining Permit covers an area of IMG Ownership 40% 195 square kilometres km² JV: Anglogold Ashanti Location Mali
Slide 50: Mining Equipment
Yatela MALI 51 Mining Equipment Production Fleet – Yatela & Amamoutala § 15 x CAT 777 Haul Truck § 1 x CAT 5130 Excavator BH § 1 x Liebherr 984 Excavator § 1 x CAT 330D Excavator § 1 x CAT 980H Loader § 4 x CAT D9 Track Dozers § 4 x Tamrock Pantera 1500 Blasthole Drill § 1 x Drilltech D45 RC Rig
Slide 51: Reserves & Resources Update – December 31, 2009
Yatela MALI 52 Reserves & Resources Update – December 31, 2009 Yatela Tonnage Grade Au December 31, 2009 (000) (g/t) (000 oz) Proven Reserves 3,006 1.1 110 Probable Reserves 0 0.0 0 Measured Resources 3,549 1.2 141 Indicated Resources 2,002 2.7 174 Inferred Resources 464 3.1 46 Reserves & Resources
Slide 52: Attributable Reserves & Resources Update
Yatela MALI 53 Attributable Reserves & Resources Update – December 31, 2009 Yatela Tonnage Grade Au December 31, 2009 (000) (g/t) (000 oz) Proven Reserves 1,202 1.1 44 Probable Reserves 0 0.0 0 Measured Resources 1,420 1.2 56 Indicated Resources 801 2.7 70 Inferred Resources 186 3.1 19 Attributable
Slide 53: Changes in Reserves & Resources
Yatela MALI 54 Changes in Reserves & Resources § Reduction in Reserves & Resources at Yatela due to Mine depletion § Does not include subsequent updated Yatela models showing positive results § AngloGold Ashanti use October 31 as a cut-off date
Slide 54: Cumulative Production & Reserves (100% Basis)
Yatela MALI 55 Cumulative Production & Reserves (100% Basis) 2,500 2,000 1,500 1,000 500 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Cumulative Production Yatela Reserves
Slide 55: IAMGOLD Attributable Production
Yatela MALI 56 IAMGOLD Attributable Production 160 (000’s ounces) 140 120 100 80 60 40 20 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009E
Slide 56: IAMGOLD Strategic Priorities
Yatela MALI 57 IAMGOLD Strategic Priorities § Conclude end of life planning § Accelerate the current exploration plan at Yatela to see if there is any opportunity to extend life § Investigate the opportunity for further resources below the pit, using the IMG Operations Strategy group as the current
Slide 57: Exploration
EXPLORATION
Slide 58: Exploration
Sadiola & Yatela MALI 59 Exploration § $18M Greenfields Exploration Program ($8M remaining) § Began early 2009, due for completion mid 2010 § Emphasis on: • Exploration targeted FE resource • Emerging greenfields targets south of FE resource • Continue resource expansion at Yatela and satellite targ
Slide 59: Exploration: Encouraging results south of FE
195000 200000 205000 210000 215000 220000 225000 Sadiola & Yatela MALI Yatela 60 Exploration 1560000 1560000 § Encouraging results south of FE § Expanded budget based on results Alamoutala 1550000 1550000 Mesozoic Dolerite dyke Upper Proterozoic Pit outline FE3 pit1 1540000 1540000 Souroukoto Group
Slide 60: Exploration Targets
Sadiola & Yatela MALI 61 Yatela Exploration Targets Over 30 Targets identified Alamoutala 2009 Targets Oxide - Priority 1 Oxide - Priority 2 & 3 Sulphide - Priority 1 Sulphide - Priority 2 & 3 Geophysic Surveys Sadiola Aeromag Survey FE3 pit1 Ground Gravity FE3 pit2 FE4 FE3 pit3 Geochemistry Surveys
Slide 61: To Sum Up
To Sum Up • Your safety is important to us • Your safety is in your hands • Stay with your guide • Follow instructions • Your comments and feedback are welcome
Slide 62: Enjoy your visit to Sadiola and Yatela Gold Mines
Enjoy your visit to Sadiola and Yatela Gold Mines