PARAMARIBO/TORONTO–Goverment has signed a new agreement with the Iamgold Corporation, that will facilitate a substantial capacity expansion of the Canadian gold mining company’s Rosebel gold mine in District Brokopondo.

A press release issued by the company explains that IAMGOLD will increase investments in brownfield and other near plant resource developments, infrastructure and energy. “Parties agreed to cooperate in the development in these priority areas, specifics of which will be concluded and announced in the near term,” the tersely worded statement said.

It quoted IAMGOLD President and CEO Steve Letwin: “I am very pleased with the current investment in Suriname. This new framework lays the foundations for us to significantly increase our investment here. We strongly believe that Suriname is and will continue to be our first growth priority. We share with the Government a strong, demonstrated commitment to sustainable development and will continue to work jointly with our Government partners to achieve that goal.”

IAMGOLD (www.iamgold.com) is a leading mid-tier gold mining company producing approximately one million ounces annually from 8 gold mines on 3 continents. The company since November 2006 owns 95% of the Rosebel Gold Mines, about 80 kilometers south of Suriname’s capital Paramaribo, in district Brokopondo. The Suriname state owns the remaining 5%. The mine covers an area of 170 km2.