This is a gold mining company that has had success and has delievered results investors have profited from. The mine continues to operate in an environmentally friendly way and you can expect the mining operations to become more efficient as profit margins increase and new exploration avenues open for further mine development.
The Rosebel gold mine is located in the mineral rich Brokopondo district in north eastern Suriname, South America. The miningconcession covers 170 square kilometres, with the Suriname River to the east, the Saramacca River to the west and the Brokopondo reserve to the south.
The property is accessible via paved and all weather gravel roads from Paramaribo, a drive of about 110 kilometres. There is a small airstrip located onsite approximately 2 kilometres from the mill operations. Suriname’s Zanderij International Airport is approximately 60 kilometres by road north of Rosebel. Electrical energy is purchased directly from the Surinamese government and from a parastatal energy company. Rosebel’s power is sourced from the nearby Afobaka hydroelectric generating station and from a diesel generation plant.
The economy of Suriname is dominated by the natural resources sector, in particular the bauxite industry. Additional natural resources include oil, gold, iron ore and forestry. The economy draws less than 10% of its income from the export of agricultural products including bananas, rice, timber, citrus fruits, shrimp and fish.
The Rosebel gold mine began commercial production in 2004 and as at the end of 2016 had produced 4.4 million ounces of gold.
This is a gold mining company that has had success and has delievered results investors have profited from.
In a press release dated July 26, 2017, Iamgold disclosed that they had increased their reserves by 80% and that the ounces they were adding would extend the life of the mine to 2028