IMPACT

Community investments demonstrate to both shareholders and stakeholders that IAMGOLD is willing to go beyond what is mandatory in making a positive impact on the communities in which it operates. While we consider these investments as “the right thing to do”, we embrace them as strategic initiatives that are also good for the Company. If we help the community invest intelligently, these contributions will ultimately improve community and government relations, increase employee well-being, and improve recruitment and retention rates.

Mine Site Community Investment Contribution
Rosebel $     539,000
Essakane 2,274,000
Niobec 100,000
Mouska/Westwood 547,562
Brazil 5,000
Corporate 770,900
Exploration Teams 130,000
Total $4,366,462

These values predominantly represent cash contributions only. One of the objectives for 2012 is to track and place a value on in-kind contributions to more accurately reflect our voluntary contributions back to the community.

The IAMGOLD vision for community development is to build strong communities and strong relationships. When it comes to investing in our host communities, we focus on capacity building, sustainability and participatory approaches. Each site has its own budget and procedures for selecting appropriate development projects and partners. The sites are given support from IAMGOLD through its Sustainability Framework as well as practice guidelines in the Community Relations Handbook. At our major operations, needs assessments and baseline studies are conducted and updated regularly. Moving forward, we also realize it is important to conduct this engagement early and frequently so that expectations are communicated and managed in an appropriate way that will not be cumbersome for either staff or the local community groups with whom we partner. Where possible we also strive to engage in partnerships to help communities achieve their own development goals. 

LBG Canada – Helping to Verify Our Results

At the end of 2011, IAMGOLD joined LBG Canada. Participation in this organization means that an external party will audit the IAMGOLD community investment expenditures to ensure that they are truly voluntary and that the true value of our cash and non-cash contribution (e.g. in-kind donations) as well as program management costs are being captured. We look forward to the results from this audit expected in the second quarter of 2012.
lbg canada