Canadian Companies Make Their Pitch At PDAC

At the Prospectors and Developers Annual Convention (PDAC) in Toronto, Canada mining and exploration companies of all sizes were on hand to discuss the year that was and those that will be. The following is a look at some of the companies with Canadian operations that were on hand for PDAC 2009. Iamgold Corporation is a leading mid-tier gold mining company producing approximately 31 t (1 million oz) of gold from seven mines on three continents. With record revenues of $870 million ? up 28 percent when compared to 2007 ? the company is focused on growth with a target to reach 56 t (1.8 million oz) gold production by 2012. During 2008, the company acquired the Essakane project in West Africa. The project is fully permitted, under construction and will contribute more than 9.3 t (300,000 oz) of lower cost production by late 2008. Iamgold increased its reserves by 55 percent, to 385 t (12.4 million oz) and its resources in-creased by 16 percent to 821 t (26.4 million oz) in 2008. Going forward, Iamgold has three areas of focus ? West Africa, Guyana Shield and Quebec ? with seven gold operations, five advanced projects and the Niobec niobium mine included. The Rosebel Mine in Suriname is Iamgold?s fl agship property. With measured and indicated resources of 300 t (9.6 million oz), it accounts for 30 percent of Iamgold?s production. Production there was up 20 percent compared with 2007 and further production increases are expected in 2009 and 2010. Mill expansion and optimization increased throughput from 8.9 Mt/a (9.8 million st) to 10 Mt/a (11 million stpy). In West Africa, Iamgold has joint ventures at Sadiola in Mali; Tarkwa in Ghana; Yatela in Mali and Daman in Ghana. Iamgold also has 100 percent ownership of the Mupane gold mine in Botswana and the Doyon gold mine in Quebec, Canada. Also in Quebec, Iamgold has 100 per-cent ownership of the Niobec niobium mine in Quebec. Niobium is used in high strength specialty steels.