IAMGOLD Corp.

IAMGOLD Corp. is a mid-tier gold producer headquartered in Toronto, Canada, operating primarily in Canada and Africa. The company's portfolio consists of 6 projects, comprising 3 operating mines and 3 advanced exploration projects. Key assets include Côté Gold and Essakane. The business model centers on being an intermediate producer and developer, utilizing a conventional truck-and-shovel operational approach. Mining plans are designed in phases to balance stripping requirements with processing needs, supported by both owner-operated and contractor-operated fleets. Processing capabilities are diverse, incorporating multi-stage crushing, high-pressure grinding rolls (HPGR), ball milling, gravity concentration, and carbon-in-leach (CIL) and carbon-in-pulp (CIP) circuits. The operational framework is enhanced by the integration of advanced technologies, including autonomous truck and drill fleets supported by a 5G communication network to improve efficiency and safety. Infrastructure is well-established, with operations supported by on-site power generation, including heavy fuel oil plants and a photovoltaic solar farm, comprehensive water management systems, and dedicated airstrips for logistics and personnel transport. The enterprise maintains a culture of accountable mining through high standards of practice across its activities.

Strategic priorities have been refocused on core assets following the divestiture of non-core development and exploration projects. The growth strategy emphasizes a dual approach of advancing a portfolio of near-mine brownfield projects and high-potential greenfield exploration targets. A long-term commitment to resource replenishment is executed through systematic exploration and resource development drilling programs aimed at extending known mineralization and improving resource confidence. Capital allocation is managed proactively to strengthen the balance sheet and support operational ramp-ups, as demonstrated by the execution of forward sale arrangements to manage cash flow and the strategic repurchase of a joint venture interest to regain a majority ownership position. The organization's financial strategy also involves maintaining flexibility through credit facilities and term loans to fund capital requirements for operations, expansion, and development. Future exploration is concentrated on delineating and expanding existing zones and testing new targets within established, high-potential districts.

Executive leadership is headed by a President and CEO with over 30 years of global mining experience in senior executive and operational roles, including leading strategic repositioning and operational turnarounds at previous companies. The Board of Directors is composed of 9 members, with oversight structured through 5 specialized committees: Audit and Finance; Human Resources and Compensation; Nominating and Corporate Governance; Sustainability; and Technical. The governance framework is reinforced by an Audit and Finance Committee comprising 4 independent directors, all of whom are financially literate, with 1 designated as an audit committee financial expert. This committee assists the board in overseeing financial reporting integrity, internal controls, and risk management. The organization has implemented a comprehensive system of corporate governance, internal controls over financial reporting, and disclosure controls and procedures that apply across all levels of the company and its subsidiaries, ensuring robust oversight and accountability.

The sustainability framework is guided by a 'Zero Harm™' vision, with a focus on environmental stewardship, social responsibility, and robust governance. Community investment is a core component, demonstrated by a 6-year, $38.9 million partnership with Global Affairs Canada and the One Drop Foundation to improve socioeconomic conditions and water access for vulnerable populations. The company also contributes 1% of annual revenues to a government-managed Mining Fund for Local Development, with contributions totaling approximately $53.2 million to date. Indigenous relations are managed through Impact Benefit Agreements (IBAs) that establish monitoring committees and collaborative socio-economic management plans. Environmental management includes the implementation of a new mine closure standard, comprehensive water management programs, and progressive rehabilitation activities. Workplace safety is addressed through extensive health and safety measures designed to mitigate risks associated with occupational hazards and diseases prevalent in operating regions.

The corporate structure includes a significant joint venture with Sumitomo Metal Mining Co., Ltd. (SMM) for the Côté Gold project. In 2022, an amendment to the JV agreement saw SMM fund a portion of the company's obligations in exchange for an approximate 10% interest, which the company subsequently repurchased for $377.7 million in 2024, returning its ownership to 70%. In February 2024, the company acquired all outstanding shares of Vanstar Mining Resources Inc. via a plan of arrangement, thereby consolidating a 100% interest in the Nelligan project. A strategic divestiture program was initiated in 2022 through definitive agreements with Managem S.A. to sell exploration and development assets. This resulted in the completed sale of its interest in the Boto Gold Project in Senegal in 2023 and the Karita Gold Project in Guinea in 2024. The agreement to sell the Diakha-Siribaya Gold Project in Mali expired on December 31, 2024, and was not extended.