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Yatela Gold Mine, Mali

Ownership

40% IAMGOLD, 40% AngloGold Ashanti, 20% Government of Mali

Operator

AngloGold Ashanti Mali

Location

The Yatela Gold Mine is located 25 kilometres north of the Sadiola Gold Mine in southwest Mali, West Africa near the Senegal-Mali border, approximately 50 kilometres to the SSW of the town of Kayes, the regional capital.

History

Yatela began production in 2001 and will cease production by the end of 2016. Mining activities were suspended in September 2013 and the processing of the ore previously mined will continue as the operations continue to wind down. The winding down of Yatela continued through to the end of 2014, at which point stacking of ore on the leach pads was discontinued.

On February 14, 2019, Sadiola Exploration Limited (“SADEX”), a subsidiary jointly held by the Company and AngloGold Ashanti Limited, entered into a share purchase agreement with the Government of Mali, whereby SADEX agreed to sell to the Government of Mali its 80% participation in Société d’Exploitation des Mines d’Or de Yatela (“Yatela”), for a consideration of $1. The transaction remains subject to the fulfillment of a number of conditions precedent, among which the adoption of two laws, confirming the change of status of Yatela to a State Entity, and also the creation of a dedicated state agency, notably in charge of mine rehabilitation and closure. As part of the transaction, and upon its completion, SADEX will make a one-time payment to the said state agency, in an amount corresponding to the estimated costs of completing the rehabilitation and closure of the Yatela mine, and also financing certain outstanding social programs. Upon completion and this payment being made, SADEX and its affiliated companies will be released of all obligations relating to the Yatela mine including those relating to rehabilitation, mine closure and the financing of social programs.

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