Officials at the government of Suriname said the country has reached an agreement with Canadian miner Iamgold to allow the expansion of the Rosebel mine gold in the South American country. The mine is one of Iamgold's biggest ventures and produced about 385,000 ounces of gold in 2011. The agreement must be submitted to Suriname's National Assembly, and Iamgold said it would only disclose its details after the approval.
Suriname’s President Desi Bouterse confirmed the agreement with Iamgold and said a deal had been agreed with Newmont Mining, but gave no further details on the latter.