Disclosure of Management Approach 2015 Annual Report
G4-EC1 Direct economic value generated and distributed DETAILS +
Direct Economic Value Generated and Distributed
12 months ended December 31
(USD – millions)
Burkina Faso
A. Direct economic value generated
Revenues $926.4 $87.5 $350.6 $487.1
B. Economic value distributed
Operating costs ($1,683.3) ($370.9) ($360.2) ($473.3)
Employee wages and benefits Employee compensation is not tracked by country. As such, the number is embedded in the value for “operating costs”.
Payments to providers of capital
  (equity shareholders)
($3.2) ($1.5)
Payments to governments
Corporate, income, property and mining taxes ($11.5) ($15.4) ($3.1) ($19.6)
Royalties ($38.7) $19.2 $19.5
Community investments Data not being tracked
A - B (generated - distributed) = Economic value retained ($732.9) ($298.8) $5.0 $52.9
C. National/local purchasing Data not being tracked

Note: Data is provided on an accruals basis.

G4-EC4 Financial assistance received from government DETAILS +
Disclosure Required 2015 Rosebel 2015 Essakane 2015 Westwood 2015 Corporate
a. What is the total monetary value of financial assistance received by the organization from governments during the reporting period? Nil
b. What is the total monetary value of financial assistance received by the organization from governments during the reporting period by country? Canada: Nil
Suriname: Nil
Burkina Faso: Nil
c. To what extent is government present in the shareholding structure? The Government of Suriname and the Government of Burkina Faso are minority shareholders of Essakane and Rosebel at 10% and 5%, respectively.
Disclosure of Management Approach All IAMGOLD operations conduct local hiring practices in compliance with relevant labour legislation and agreements signed with the government, where applicable.
G4-EC6 Proportion of senior management hired from the local community at significant locations of operation DETAILS +
Disclosure Required 2015 Rosebel 2015 Essakane 2015 Westwood 2015 Exploration
Is there a global policy or common practices for granting preference to local residents when hiring in significant locations of operation? Surinamese labour legislation. Mineral Agreement includes targets as well. Yes, our recruitment policy makes provision for granting preference to the hiring of local residents. The Succession Development Plan states that if competencies can be found locally, there is no need to hire an expatriate for the said position. Data not available Yes, there are common practices. The preference for hiring from local communities is mentioned in the national law or in the agreement signed with the government.
What is the definition used for “senior management”? Superintendents and managers It includes supervisors, senior supervisors, foremen, superintendents and participation in the performance management process (PMP). Data not available Managers with a high level of responsibility, in charge of supervising a department or a team: project managers and country exploration managers
What is the geographical definition used for “local”? National employee National employee Data not available National employee
What is the definition used for “significant locations of operation”? Rosebel Mine site Essakane Mine site Data not available We consider all the exploration sites as significant locations of operation
What is the percentage of senior management at significant locations of operation that are hired from the local community? Use data on full-time employees to calculate this percentage. 20% 0.22% Data not available 15%
Disclosure of Management Approach IAMGOLD recognizes that in the countries where we operate, our investments contribute significantly to the local, regional and national economies, which is particularly important in developing countries like Suriname or Burkina Faso. Our goal is to ensure that our economic contributions, whether direct or indirect, contribute to sustainable development.
G4-EC7 Development and impact of infrastructure investments and services supported DETAILS +
Disclosure Required 2015 Rosebel 2015 Essakane 2015 Westwood
Was there a community needs assessment conducted to determine infrastructure and other services needed?

If so, briefly explain the results of the assessment.
Yes, bi-annual community meetings were held that served as a forum for evaluation of and alignment on community investment needs and expectations. Yes, through community development plans (PCD). This assessment allowed us to engage with the local population and identify and prioritize investment needs in areas such as education, health, agriculture, environment, economic infrastructure, water, supplier capacity-building, support for vulnerable households, sanitation and access to energy. No
Were infrastructure investments and services provided? If yes, answer the following questions: Yes Yes No
i. What was the extent of the development? Bi-annual village road maintenance Construction of youth centre, women’s centre, community radio building, Falagountou training centre, governance development in Falagountou, construction of a 750-metre gutter in Dori, construction of hydraulic infrastructure, institutional development of the Gorom health clinic, electrification of Essakane site, etc. N/A
ii. What was the cost? $613.25 US $1,535,350 US N/A
iii. What was the duration? 2 weeks 1 year N/A
iv. What are the current impacts? Improved road access for villages Improvement of production, access to and improvement of health services, availability of water, improvement of youth education and training, improvement of sanitation and living environment, availability of food, capacity-building, increased local purchasing, support of vulnerable households, access to electricity, availability of cereals, etc. N/A
v. What are the expected impacts (positive or negative)? Road maintenance significantly increases the accessibility of remote villages. Improvement of living conditions, increased income, more local jobs N/A
vi. Are these investments commercial, in-kind or pro bono? Pro bono Pro bono N/A
G4-EC8 Significant indirect economic impacts, including the extent of impacts DETAILS +
Disclosure Required 2015 Rosebel 2015 Essakane 2015 Westwood
a. Were there any indirect economic impacts related to the topics below? If yes, describe: Yes Yes, related to the local supplier markets and the creation of indirect jobs, increased success rates in schools, and decreases in certain illnesses Yes
i. How these impacts have changed the productivity of organizations, sectors or the whole economy (e.g., through greater adoption or distribution of information technology) Data not being tracked Better knowledge of agricultural and husbandry techniques by agricultural and market garden producers Data not being tracked
ii. Economic development in areas of high poverty (e.g., number of dependants supported through income from one job) At the end of 2015, 372 villagers were employed at RGM, guaranteeing them a source of income and thus contributing to the overall economic development of these villages. Described in DREP (Regional Directorate of Economy and Planning) study on the improvement of livelihoods Data not being tracked
iii. The economic impact of improving or deteriorating social or environmental conditions Data not being tracked Described in DREP (Regional Directorate of Economy and Planning) study on the improvement of livelihoods Data not being tracked
iv. The availability of products and services for those on low incomes Data not being tracked Establishment of cereal banks and livestock feed banks Data not being tracked
v. How these impacts have enhanced skills and knowledge amongst a professional community or in a geographical region (e.g., the need for a supplier base creates a magnet for companies with skilled workers, which in turn engenders new learning institutes) Data not being tracked Skills development is done internally through a skills development program for national employees, in order to prepare for the succession to replace expatriates, and externally through supplier training programs and population literacy programs. Data not being tracked
vi. Jobs supported in the supply chain or distribution chain (e.g., assessing the impacts of growth or contraction of the organization on its suppliers) Data not being tracked Contracts have been established with local suppliers for procurement of food and other commodities (meat, vegetables, cleaning products, hardware, aggregates, etc.). In 2015, the study showed that local suppliers had created nearly 483 indirect jobs in the Sahel. 98% of Westwood’s $100 million procurement spending is conducted with vendors in Ontario’s and Quebec’s mining supply chain network and indirectly supports jobs in this sector.
vii. How these impacts have stimulated, enabled or limited foreign direct investment (e.g., expansion or closure of an infrastructure service in a developing country can lead to increased or reduced foreign direct investment) Data not being tracked Data not being tracked Data not being tracked
viii. The economic impact of any change in location of operations or activities (e.g., outsourcing of jobs to an overseas location) Data not being tracked Data not being tracked Data not being tracked
ix. The economic impact of the use of products and services (e.g., linkage between economic growth patterns and use of particular products and services) Data not being tracked Data not being tracked Data not being tracked
Disclosure of Management Approach IAMGOLD is committed to providing opportunities for communities associated with our operations and to sharing in the benefits which flow from our activities. Our company-wide policy on the purchase of goods and services encourages mine sites to give priority to local suppliers, provided they are competitive. “Competitive” refers to the total cost, delivery, and quality of the good or service. Where two suppliers are considered equal, the local supplier should prevail.

Formalized local procurement and business development programs are being developed at sites in an effort to maximize the shared economic benefits of company-wide local procurement practices.
G4-EC9 Proportion of spending on local suppliers at significant locations of operation DETAILS +
Disclosure Required 2015 Rosebel 2015 Essakane 2015 Westwood
Total annual procurement spending for the site $240,412,735.5 US $205,000,000 US $100,000,000 CDN
Percentage of total procurement spent on local suppliers (community/local vendors) 1% 2% 53% Abitibi-Témiscamingue
Percentage of total procurement spent on national vendors (i.e., vendors based in Ouaga or Paramaribo) 59% 98% 98% Ontario and Quebec
Where are the “local” suppliers located? What regions/villages/towns? In the district of Brokopondo: Nieuw Koffiekamp, Brownsweg, Klaaskreek and Brokopondo Centrum In the Sahel area: Dori, Falagountou, Gorom-Gorom and Essakane site Abitibi-Témiscamingue
What types of programs/policies/activities are in place to support local suppliers or prioritize local procurement? An active practice of supporting local income generation by outsourcing certain types of work to local suppliers only and through a program designed to support local suppliers with entrepreneurial training, etc. The aim is to give preferential treatment to local entrepreneurs for certain goods and services, which will in turn stimulate fair competition amongst local businesses. Governance development program, quality process development program, reduction of payment terms for local suppliers, and bonus for construction companies Priority is given to local suppliers.