IAMGOLD Corporation

WHO WE ARE: OUR COMPANY

IAMGOLD Corporation is a leading mid-tier gold mining company producing approximately one million ounces annually from 5 gold mines (including joint ventures) on three continents. IAMGOLD has a pipeline of development and exploration projects and continues to assess accretive acquisition opportunities. IAMGOLD’s growth plans are strategically focused in certain regions of Canada, select countries of South America and in West Africa.



HEALTH AND SAFETY

In 2008, IAMGOLD adopted a vision of Zero Harm, created comprehensive Health, Safety and Sustainability frameworks designed to realize that vision, and worked diligently to inspire support for our initiatives at all levels of the organization. Our efforts throughout 2011 continue to yield results, as we maintain our focus on doing the right things to protect our people from harm.

Globally, we set objectives and measure performance, using both leading and lagging performance targets. Leading targets are built around preventive activities intended to reduce risks and injury rates in our work environments. Our sites choose their own preventive measures and assign their own targets. Lagging indicators measure the success of our prevention efforts, captured by Total Recordable Incident Rate (TRIR) and Days Away Restricted and Transfer (DART), which reflects the severity of injuries.

Communicating and measuring leading indicator targets allows us to motivate our teams towards our common goal of Zero Harm; the use of lagging indicators alone can be misleading since they measure outcomes only and do little to illustrate the activities needed to effect change.

In 2011, leading indicator targets of 100% were exceeded across the Company, with a global average of 116%.

In 2011, we achieved an overall 7% reduction in our TRIR lagging indicator. However, we experienced a 6% increase in the DART rate over 2010. Analysis of the data revealed that there were fewer injuries resulting in days away from work, but more injuries resulting in restricted duties and job transfers – essentially a reduction in injury severity.

WORKPLACE OUR PEOPLE

At IAMGOLD, our goal is to build an empowering workplace where employees are encouraged to take personal responsibility for enriching the lives of our stakeholders by developing a culture of accountable mining. Whether in our daily work practices, in our commitment to the communities where we work, or in our natural environment, we strive for Zero Harm, our vision of the highest standards of health, safety and sustainability. We are actively building a culture of empowerment among our approximately 5,400 full-time employees and believe this gives us a more talented workforce, reduces turnover and enables the achievement of production and safety targets.

Throughout our activities in South America, North America and Africa, IAMGOLD seeks to ensure that a fair share of the social and economic benefits of our work remains in the host communities by maximizing the employment of local residents.

Our Québec operations generally have 100% local and regional employees as historically there is a strong mining workforce in these areas. At Rosebel in Suriname and Essakane in Burkina Faso, however, there are significant challenges in finding skilled employees from the surrounding communities. Accordingly, we have put strong mandates in place to hire, train and promote locally.

In addition to receiving wages that are designed to attract, retain and compensate our team members fairly, IAMGOLD employees also enjoy benefits tailored to their locations and economic circumstances. Depending on location, the benefits typically include health and dental care coverage, child care allowances, insurance, pensions, bonuses, transportation and the provision of recreational facilities.

Along with good wages and benefits, we provide our workforce with ongoing training opportunities.

Rosebel

To boost local hiring at our Rosebel operations in Suriname, in 2010 the community relations team refocused its local hiring program on community capacity building, as well as on hiring protocols, communication, and coaching for local residents. The team also partnered with C. Kersten Co. N.V. (a Surinamebased conglomerate) and the Caribbean Heavy Equipment Educational Center on local training programs and a technical school. The program is accessible by seven communities and provides transferable skills for the local population.

Essakane

IAMGOLD created a new training centre at the Essakane mine to promote the development of the Essakane staff and the local workforce by enhancing their skills and preparing them to replace expatriates. The centre, inaugurated in December 2011, provides training in literacy and languages, occupational health and safety, and supervision and leadership, as well as in driving, firefighting and computer skills.

Québec

IAMGOLD has formed a partnership with the Commissions Scolaire de l'Or et des Bois to offer to mining students in Québec's Abitibi region hands-on training and the use of IAMGOLD facilities. Students are welcomed at IAMGOLD's Mouska mine and Westwood construction project to complete internships. On site, they are provided with training, mentorship and supervision by mine employees.

ENVIRONMENT

IAMGOLD and the environment

We understand that IAMGOLD's mining activities have environmental impacts, so we constantly explore ways to minimize them. We operate with rigorous internal and external environmental frameworks, including ISO 14001 and the Mining Association of Canada's TSM initiative.

ISO 14001 – best practice guidance

IAMGOLD's operating mines, the Westwood project, and corporate offices in Toronto (Ontario) and Longueuil (Québec) have all obtained ISO 14001 Environmental Management Standard certification.

Towards sustainable mining – benchmarking our performance

The Mining Association of Canada's TSM program is a key performance indicator framework that provides objective assessments across six sustainability performance protocols: Aboriginal Relations and Community Outreach; Crisis Management; Energy Use and GHG Management; Tailings Management; Safety and Health; and Biodiversity Conservation Management. IAMGOLD's 2011 performance can be viewed at www.mining.ca.

Tailings management and land reclamation

Under Zero Harm, it is essential to maintain the integrity of tailings dams and waste facilities. All IAMGOLD sites adhere to the rigorous tailings management protocol established by the TSM program. Inspections are conducted at least annually, and groundwater is regularly monitored to ensure that leaching has not occurred. Tailings dam storage facilities in use at IAMGOLD sites are designed to international standards by qualified professionals. In addition, dam inspection annual reports, geotechnical work, projects, designs and plans related to tailings and pit wall stability are all externally reviewed.

Water management

Water is important in mining but is even more important to the health and wellbeing of communities and the planet. Accordingly, in 2010, IAMGOLD developed detailed water management plans for all operations, targeting a global 5% water reduction for the next three years.

Owing to the variation in our operations' water requirements and the diversity of operating environments, IAMGOLD approaches water management on a local basis. Each site tailors its water management plan according to local conditions and concerns. In 2011, all IAMGOLD sites installed monitoring equipment to improve water data collection. Essakane mine is located in an arid area of West Africa. Efficiency is a major focus here, because water is a scarce resource and essential for biodiversity.

Essakane reduced its impact on water sources by satisfying 77% of its water requirements with recycled water, compared to 67% for its first seven months of operation the previous year. Earlier initiatives, such as the use of a tailings thickener to reduce demand for fresh water, also continue.

SOCIAL

IAMGOLD social and community impacts

IAMGOLD's active partnership model helps our host communities to maximize the local benefits of mining, and we partner with governments and civil society to deliver sustainable community development. Better community relations means more focused and productive community meetings, more local purchasing, and more (and better) local employees. It also maintains our social licence to operate, which opens doors for us globally and adds value for stakeholders – communities, investors and governments. We manage community relations with the same rigour with which we manage production.

Community relations handbook and audit tool

In 2010–2011, IAMGOLD developed a community relations handbook to guide sitelevel practitioners with best practices from International Finance Corporation (IFC), the International Council on Mining and Metals (ICMM), the Global Reporting Initiative (GRI), the Canadian Mining Association's Towards Sustainable Mining (TSM) program, and the Voluntary Principles on Human Rights and Security.

Identifying our stakeholders

IAMGOLD's priority stakeholders include our employees, host communities, civil society organizations, and local and national governments. Corporately, we also interact regularly with shareholders and our own Board of Directors. Engagement is guided by the principles of honesty and transparency and by the construction of meaningful relationships.

In 2011, we met with thousands of stakeholders, individually and in groups, in hundreds of sessions. We responded to incoming questions but also reached out, meeting formally and through impromptu "walkabouts."

Economic contribution

IAMGOLD's most significant economic contributions are delivered as taxes, royalties, in-country purchasing and employee compensation (payroll including income taxes). Globally these contributions totaled $939 million.

Human rights

One of the guiding principles of IAMGOLD's sustainability policy is to create lasting partnerships with our operations' host communities, built on respect for human dignity as well as the rights of individuals and communities.

In 2009, IAMGOLD initiated a multi-year human rights training program, assisted by Business for Social Responsibility. Management training programs that are focused on identifying, protecting and respecting human rights were rolled out across our operations over the past two years.

In 2011, IAMGOLD formed a senior executive working group to review our past and current commitments to human rights. Under their guidance, a new Human Rights Strategy has been created that aligns directly with the UN Guiding Principles on Business and Human Rights (the Ruggie Framework). Human rights training will continue in coming years, with attention on functions such as security, human resources and procurement.

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