Iamgold Corp., a Canadian gold-mining company, said Monday it obtained a $140 million, five-year revolving credit facility with a bank syndicate.

IAMGOLD Obtains US $140 Million Credit Facility (Marketwire)

AP reports: Suriname wants to renegotiate its contract with Iamgold [NYSE:IAG; TSX:IMG] over its Rosebel gold mine. Natural Resources Minister Gregory Rusland said that gold prices have risen beyond expectations since the government signed a contract in 2005.

The country currently receives royalties of 2% of Rosebel's production as well as payments for the use of a hydroelectric dam that vary according to gold prices. The price of gold was around $400 when Rosebel signed its contract. Gold is now trading at over $900 an ounce.

Rosebel produced 263,000 ounces in 2007 at a cash cost of $452 per ounce. On February 6, 2008, the company announced an $18.4 million investment to expand the Rosebel mill from approximately 275,000 ounces per year to 300,000-305,000 ounces per year and a reduction in direct cash costs of approximately $35 per ounce over the life of mine.

Iamgold’s interest in Rosebel is held through 95% interest in Rosebel Gold Mines, while the remaining 5% is held by the Republic of Suriname. 

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