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Ramdin: Sell Rosebel Gold Mines a serious matter

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The proposed sale of Rosebel Gold Mines NV to the Chinese Zijin Mining Group Co is causing a great deal of controversy. The government was informed at the last minute, while the employees had to hear the news from the media. Many things are still unclear. Minister Albert Ramdin, ad interim Finance & Planning asked for a response, tells the news press that the government was formally informed on Monday evening by a delegation from Iamgold. This issue is being looked at seriously because it is a major foreign exchange earner.

Minister Ramdin says that the government will discuss this issue internally with Staatsolie to discuss matters in detail. Suriname has 5% shares in the Rosebel mine. Iamgold was asked emphatic questions about the sale to the target company. The worldwide activities of Zijin Mining Group Co, the behavior on environmental issues, the social components and the labor force will be further studied. The effect that this change of ownership will have on the local community is also important.

The government will look at all aspects of this sale. The minister said that they are not yet ready to make a final analysis. More information is needed for that. They are at that stage at the moment. They will meet with Staatsolie and with all relevant actors this week. This case will be dealt with in all respects, legally. , economically, socially, but also mining, are discussed as well, so that they have a good idea of which direction they are going with Iamgold.

Canadian multinational Iamgold Corporation sells its 95% stake in Rosebel Goldmines for US$360 million. It also receives approximately U$41 million in equipment lease obligations. Rosebel has a 95% interest in the Rosebel Goldmine and a 70% interest in the Saramacca mine. Staatsolie participates for 30% in this. The government has a 5% stake in Rosebel which it retains. The transaction is expected to close early in the first quarter of 2023 or earlier, “provided closing conditions are met.”





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