Working to achieve the gold standard in sustainability

Challenges facing the gold mining industry continued throughout 2015, and as a result, the year was characterized by rigorous attention to maximizing efficiencies, driving operational improvements and reducing costs. All the while, IAMGOLD remained unwavering in our commitment to Zero Harm – our commitment to maintain the highest standards in human health, minimize our impact on the environment and work in partnership with our host communities.

It is recognized at every level of IAMGOLD management that a strong commitment to health, safety and sustainability not only enriches the lives of our stakeholders, but is also good for business. And it is clear that our efforts are being noticed.

As members of the Mining Association of Canada (MAC), we participate in the Towards Sustainable Mining (TSM) management program. In December, Rosebel, Essakane and Westwood were all awarded the prestigious TSM Leadership Award for 2015. The TSM Leadership Award is granted by MAC only when a mining operation meets or exceeds an externally verified Level A ranking across all of the six protocols (Aboriginal and community outreach, crisis management, safety and health, tailings management, biodiversity conservation management, and energy and greenhouse gas emissions management). For the first time, mines outside of Canada were eligible to receive the award, and Essakane and Rosebel were the only winners in Africa and South America, respectively.

Also in 2015, IAMGOLD was listed by Maclean’s and Sustainalytics as one of Canada’s Top 50 Socially Responsible Corporations for the fifth year in a row, and was ranked among the Future 40 Responsible Corporate Leaders in Canada by Corporate Knights. Essakane also received two awards in the areas of human rights and environmental stewardship from the Corporate Social Responsibility Forum of Burkina Faso. These recognitions only strengthened our resolve to push further.

In an unprecedented effort to drive meaningful development where we do business, 2015 saw us finalize plans for Eau et Croissance Économique Durable au Sahel, a four-year development project in Burkina Faso that responds to increased water scarcity in the northern Sahel region. Jointly financed by IAMGOLD and the Government of Canada, and implemented by Cowater International, this $14.5 million project will provide access to safe drinking water and sanitation and promote revenue generating activities for tens of thousands of regional inhabitants facing an acute water crisis.

Yet among these many successes, a tragic road accident in Mali resulted in the passing of an individual and multiple serious injuries to our exploration colleagues. The accident occurred in April 2015 while travelling between IAMGOLD’s office in Bamako and the Siribaya exploration project, when the vehicle hit a tree after leaving the road. As per Corporate requirements, an Incident Cause Analysis Method investigation was conducted to identify the root causes and relevant corrective action. Preventative corrective actions were mainly focused on fatigue management and rest/working schedules issues. In the mitigation aspect, the identified corrective actions were on our drivers’ first medical training response.

Among other challenges we faced this year, a localized seismic event at our Westwood Mine occurred on May 26, 2015, and although no employees were injured, the area of operation was left in a rehabilitative state for much of the year and additional assistance and support for employees affected was immediately provided. Following a complete review and the development of a remediation plan, our Westwood Mine still remained – and continues to be – a promising low-cost, high-grade producer.

The IAMGOLD Health and Safety team obtained recognition for its efforts to build a culture of health and safety into the day-to-day routines at our operations. In 2015, Essakane finished with a 24% Days Away, Restricted or Transferred Duty (DART) rate reduction and a 14% Total Recordable Incident (TRI) rate reduction compared to 2014, achieving three months of Triple Zero rates (meaning zero days away, zero restricted duty assignments or job transfers and zero medical aid incidents). After a challenging start to 2015, Rosebel also finished with an excellent overall health and safety performance, including three months of Triple Zero rates during the second half of the year. Compared to 2014, Rosebel saw an impressive 28% DART rate reduction and an 18% TRI rate reduction. Lastly, although the seismic event presented a significant challenge for Westwood, the site had started 2015 below its DART rate target, and worked extremely hard to achieve three months below this target following the May 26 setback.

The value our company places on health, safety and sustainability is reflected in our exceptional performance results and the extensive recognition we received over the course of 2015. I am enormously proud of how IAMGOLD has succeeded in the face of the unique challenges our industry continues to face, and I know we will only continue to improve, push boundaries and strive for excellence across the board.

Sincerely,

Signature

Stephen J. J. Letwin
President and Chief Executive Officer

Stephen J. J. Letwin
President and Chief Executive Officer