Rosebel Gold Mine

Rosebel Gold Mine

Rosebel Gold Mine
Location
Rosebel Gold Mine
Location in Suriname
district Brokopondo district
Country Suriname
Coordinates 5°4′37″N 55°9′21″W / 5.07694°N 55.15583°W / 5.07694; -55.15583Coordinates: 5°4′37″N 55°9′21″W / 5.07694°N 55.15583°W / 5.07694; -55.15583
Production
Production 382,000 [1]
Financial year 2012
History
Opened 2004
Closed 2032 (estimated)
Owner
Company IAMGOLD (95%) and the Government of Suriname (5%)

The Rosebel Gold Mine is jointly owned by IAMGOLD (95%) and the Government of Suriname (5%).

The mine is located in the mineral rich Brokopondo District in north eastern Suriname, South America. The Rosebel property lies approximately 85 kilometres south of the capital city of Paramaribo. The mining concession covers 170 square kilometres.

History

Gold was first discovered in the Rosebel area in 1879 when small scale miners were reported to have been working on the concession. Since its discovery, the land has been both publicly and privately owned and operated. Notable private owners have included Placer Development of Vancouver from 1974-1977, the Grasshopper Aluminum Company from 1979-1985 and Golden Star Resources Ltd. from 1992. In October 2001, Cambior acquired Golden Star's interest in the Rosebel property.

Commercial production commenced in February 2004. IAMGOLD acquired Rosebel as part of its acquisition of Cambior in late 2006.[2] In 2008 total employment at the mine was 1199 people.[3] 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. The Rosebel concession owns this Gross Rosebel Airstrip, which is 1 kilometer long and security personnel are responsible for airstrip maintenance and lighting. Rosebel's power is sourced from the nearby Afobaka Dam and from a diesel generation plant.

Recent News

In February, 2013 Government officials were outraged over allegations in the Dutch newspaper de Volkskrant that royalties IAMGOLD had paid to Suriname since 2004 were missing.[4] On April 15, 2013 Iamgold and the Government came to a new agreement where the ownership ratio changed from 95/5 to 70/30.[5] In June 2013 IAMGOLD and the government of Surinam signed the agreement extending the lease until 2042.[6] On May 28, 2014 IAMGOLD began installation of what will be the largest solar panel project in Suriname. The project will cost $14 million and will increase power available to the mine.[7]

Production

Pouring gold at the Rosebel Gold Mine

Recent production figures of the mine were:

Year Production (ounces) Grade Cost per ounce
2011
2012 382,000 US$671
2013 354,000

References

Notes
  1. ↑ "Rosebel Gold Mine, Suriname". IAMGOLD. Retrieved 2013-05-07.
  2. ↑ "Rosebel Gold Mine, Suriname". IAMGOLD. Retrieved 2013-05-07.
  3. ↑ Adams, Renaud & Webster, Kevin (February 2008). "ROSEBEL GOLD MINES N.V. / Value, Responsibility and Sustainability" (PDF). IAMGOLD. p. 2. Retrieved 2013-05-08.
  4. ↑ "Outrage over suggestive story in Dutch paper". DevSur. 2013-02-08. Retrieved 2013-05-08.
  5. ↑ "Parliament gives green light for new gold mining deal". The Daily Herald. Retrieved 2013-05-07.
  6. ↑ Kuipers, Ank (June 6, 2013). "Canadian miner Iamgold Corp and Suriname's government signed a deal on Thursday". Reuters. Retrieved 2013-06-13.
  7. ↑ "IAMGOLD commences build of largest solar project in Suriname". Energy and Mines. May 29, 2014. Retrieved October 19, 2014.
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