INVESTMENTS IN ASSOCIATES AND INCORPORATED JOINT VENTURES (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Interests In Other Entities [Abstract] |
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| Disclosure of associates |
| | | | | | | | | | | | | | | | Notes | Associates1 | Sadiola2 | Yatela2 | Total | Balance, January 1, 2017 | | $ | 5.7 |
| $ | 46.9 |
| $ | — |
| $ | 52.6 |
| Purchase of additional common shares of associate3 | | 7.4 |
| — |
| — |
| 7.4 |
| Currency translation adjustment | | 0.8 |
| — |
| — |
| 0.8 |
| Share of net earnings (loss), net of income taxes | | (1.4 | ) | 16.5 |
| (0.1 | ) | 15.0 |
| Share of net loss recorded as provision | | — |
| — |
| 0.1 |
| 0.1 |
| Share of dividends received | | — |
| (2.1 | ) | — |
| (2.1 | ) | Acquisition of control over associate4
| | (4.8 | ) | — |
| — |
| (4.8 | ) | Balance, December 31, 2017 | | 7.7 |
| 61.3 |
| — |
| 69.0 |
| Currency translation adjustment |
| (1.2 | ) | — |
| — |
| (1.2 | ) | Share of net earnings (loss), net of income taxes | | (1.5 | ) | 13.1 |
| 1.0 |
| 12.6 |
| Share of net earnings recorded as a reduction of the provision | 17 | — |
| — |
| (1.0 | ) | (1.0 | ) | Share of dividends received |
| — |
| (2.1 | ) | — |
| (2.1 | ) | Other | | — |
| (0.5 | ) | — |
| (0.5 | ) | Balance, December 31, 2018 | | $ | 5.0 |
| $ | 71.8 |
| $ | — |
| $ | 76.8 |
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| | 1 | IAMGOLD includes results based on the latest publicly available information. |
| | 2 | The Company's incorporated joint ventures are not publicly listed. |
| | 3 | Associate relates to INV Metals Inc. ("INV Metals"), a publicly traded company incorporated in Canada. The Company's ownership interest in INV Metals as at December 31, 2018 was 35.6% (December 31, 2017 - 35.6%). On March 2, 2017, the Company participated in INV Metals' common shares public equity offering and acquired an additional 9.8 million common shares of INV Metals at a price of C$1.00 per share for an aggregate amount of $7.4 million (C$9.8 million). This acquisition allowed the Company to maintain a 35.6% ownership in INV Metals. |
| | 4 | As of February 28, 2017, the Company acquired all of the issued and outstanding common shares and all of the outstanding common share purchase warrants of Merrex Gold Inc. that it did not already own (note 6). |
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| Disclosure of joint ventures |
Financial information for investments in Sadiola and Yatela, not adjusted for the percentage held by the Company, is summarized below: | | | | | | | | | | | | | | | Year ended December 31, 2018 | Year ended December 31, 2017 | Joint Ventures | Sadiola | Yatela | Sadiola | Yatela | Summarized statements of earnings | | | | | Revenues | $ | 180.9 |
| $ | 6.0 |
| $ | 192.5 |
| $ | 7.7 |
| Depreciation expense | (4.4 | ) | — |
| (4.0 | ) | — |
| Other expenses | (143.1 | ) | (3.8 | ) | (143.1 | ) | (8.0 | ) | Income tax (expense) recovery | (1.6 | ) | 0.4 |
| (5.2 | ) | (0.1 | ) | Net earnings (loss) and other comprehensive income (loss) | $ | 31.8 |
| $ | 2.6 |
| $ | 40.2 |
| $ | (0.4 | ) | |
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| Summarized balance sheet | December 31, 2018 | December 31, 2017 | Assets |
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| Cash and cash equivalents | $ | 90.1 |
| $ | 0.8 |
| $ | 62.4 |
| $ | 0.5 |
| Other current assets | 55.0 |
| 7.6 |
| 53.8 |
| 7.9 |
| Non-current assets | 251.5 |
| — |
| 314.5 |
| — |
| | $ | 396.6 |
| $ | 8.4 |
| $ | 430.7 |
| $ | 8.4 |
| Liabilities |
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| Current liabilities | $ | 44.0 |
| $ | 45.0 |
| $ | 58.6 |
| $ | 55.8 |
| Non-current liabilities | 176.1 |
| 38.3 |
| 222.4 |
| 30.2 |
| | $ | 220.1 |
| $ | 83.3 |
| $ | 281.0 |
| $ | 86.0 |
| Net assets (liabilities) | $ | 176.5 |
| $ | (74.9 | ) | $ | 149.7 |
| $ | (77.6 | ) |
Associate's combined financial information as reported by INV Metals are summarized below: | | | | | | | | | 12 Months ended1 | | 2018 | 2017 | Net loss | $ | (2.9 | ) | $ | (3.1 | ) | Other comprehensive income (loss) | 1.3 |
| (2.2 | ) | Comprehensive loss | $ | (1.6 | ) | $ | (5.3 | ) |
| | 1 | IAMGOLD includes results based on the latest 12 months of publicly available information. |
| | | | | | | | | | | | | | | | Notes | Associates1 | Sadiola2 | Yatela2 | Total | Balance, January 1, 2017 | | $ | 5.7 |
| $ | 46.9 |
| $ | — |
| $ | 52.6 |
| Purchase of additional common shares of associate3 | | 7.4 |
| — |
| — |
| 7.4 |
| Currency translation adjustment | | 0.8 |
| — |
| — |
| 0.8 |
| Share of net earnings (loss), net of income taxes | | (1.4 | ) | 16.5 |
| (0.1 | ) | 15.0 |
| Share of net loss recorded as provision | | — |
| — |
| 0.1 |
| 0.1 |
| Share of dividends received | | — |
| (2.1 | ) | — |
| (2.1 | ) | Acquisition of control over associate4
| | (4.8 | ) | — |
| — |
| (4.8 | ) | Balance, December 31, 2017 | | 7.7 |
| 61.3 |
| — |
| 69.0 |
| Currency translation adjustment |
| (1.2 | ) | — |
| — |
| (1.2 | ) | Share of net earnings (loss), net of income taxes | | (1.5 | ) | 13.1 |
| 1.0 |
| 12.6 |
| Share of net earnings recorded as a reduction of the provision | 17 | — |
| — |
| (1.0 | ) | (1.0 | ) | Share of dividends received |
| — |
| (2.1 | ) | — |
| (2.1 | ) | Other | | — |
| (0.5 | ) | — |
| (0.5 | ) | Balance, December 31, 2018 | | $ | 5.0 |
| $ | 71.8 |
| $ | — |
| $ | 76.8 |
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| | 1 | IAMGOLD includes results based on the latest publicly available information. |
| | 2 | The Company's incorporated joint ventures are not publicly listed. |
| | 3 | Associate relates to INV Metals Inc. ("INV Metals"), a publicly traded company incorporated in Canada. The Company's ownership interest in INV Metals as at December 31, 2018 was 35.6% (December 31, 2017 - 35.6%). On March 2, 2017, the Company participated in INV Metals' common shares public equity offering and acquired an additional 9.8 million common shares of INV Metals at a price of C$1.00 per share for an aggregate amount of $7.4 million (C$9.8 million). This acquisition allowed the Company to maintain a 35.6% ownership in INV Metals. |
| | 4 | As of February 28, 2017, the Company acquired all of the issued and outstanding common shares and all of the outstanding common share purchase warrants of Merrex Gold Inc. that it did not already own (note 6). |
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| Disclosure of reconciliation of summarised financial information of joint venture accounted for using equity method to carrying amount of interest in joint venture |
The following table reconciles the summarized balance sheet to the carrying amount of the Company’s interest in joint ventures: | | | | | | | | | | | | | | | | | December 31, 2018 | December 31, 2017 | | | Sadiola | Yatela | Sadiola | Yatela | Company's equity percentage of net assets of joint ventures | Notes | 41% | 40% | 41% | 40% | Share of net assets (liabilities) of joint ventures | | $ | 72.3 |
| $ | (30.1 | ) | $ | 61.3 |
| $ | (31.1 | ) | Loss applied to loans receivable | | — |
| 16.0 |
| — |
| 16.0 |
| Loss recognized in provision | 17 | — |
| 14.1 |
| — |
| 15.1 |
| Other | | (0.5 | ) | — |
| — |
| — |
| Carrying amount of interest in joint ventures | | $ | 71.8 |
| $ | — |
| $ | 61.3 |
| $ | — |
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| Disclosure of joint venture carrying amount |
Subsidiaries, divisions and investments in joint ventures related to significant properties of the Company are accounted for as outlined below. | | | | | | | Name | Property – Location | December 31,
2018 | December 31,
2017 | Type of Arrangement | Accounting Method | Essakane S.A. | Essakane mine (Burkina Faso) | 90% | 90% | Subsidiary | Consolidation | Rosebel Gold Mines N.V. | Rosebel mine (Suriname) | 95% | 95% | Subsidiary | Consolidation | Doyon division including the Westwood mine | Doyon division (Canada) | 100% | 100% | Division | Consolidation | Côté Gold division 1 | Côté Gold Project
(Canada) | 70% | 70% | Division | Proportionate share | Euro Ressources S.A. | France | 90% | 90% | Subsidiary | Consolidation | Société d'Exploitation des Mines d'Or de Sadiola S.A. | Sadiola mine
(Mali) | 41% | 41% | Incorporated joint venture | Equity accounting | Merrex Gold Inc.2 | Diakha-Siribaya Gold Project (Mali) | 100% | 100% | Subsidiary | Consolidation |
unincorporated joint venture (note 10). 2 On February 28, 2017, the Company increased its ownership in Merrex from 23% to 100% (note 6). Financial information for investments in Sadiola and Yatela, not adjusted for the percentage held by the Company, is summarized below: | | | | | | | | | | | | | | | Year ended December 31, 2018 | Year ended December 31, 2017 | Joint Ventures | Sadiola | Yatela | Sadiola | Yatela | Summarized statements of earnings | | | | | Revenues | $ | 180.9 |
| $ | 6.0 |
| $ | 192.5 |
| $ | 7.7 |
| Depreciation expense | (4.4 | ) | — |
| (4.0 | ) | — |
| Other expenses | (143.1 | ) | (3.8 | ) | (143.1 | ) | (8.0 | ) | Income tax (expense) recovery | (1.6 | ) | 0.4 |
| (5.2 | ) | (0.1 | ) | Net earnings (loss) and other comprehensive income (loss) | $ | 31.8 |
| $ | 2.6 |
| $ | 40.2 |
| $ | (0.4 | ) | |
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| Summarized balance sheet | December 31, 2018 | December 31, 2017 | Assets |
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| Cash and cash equivalents | $ | 90.1 |
| $ | 0.8 |
| $ | 62.4 |
| $ | 0.5 |
| Other current assets | 55.0 |
| 7.6 |
| 53.8 |
| 7.9 |
| Non-current assets | 251.5 |
| — |
| 314.5 |
| — |
| | $ | 396.6 |
| $ | 8.4 |
| $ | 430.7 |
| $ | 8.4 |
| Liabilities |
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| Current liabilities | $ | 44.0 |
| $ | 45.0 |
| $ | 58.6 |
| $ | 55.8 |
| Non-current liabilities | 176.1 |
| 38.3 |
| 222.4 |
| 30.2 |
| | $ | 220.1 |
| $ | 83.3 |
| $ | 281.0 |
| $ | 86.0 |
| Net assets (liabilities) | $ | 176.5 |
| $ | (74.9 | ) | $ | 149.7 |
| $ | (77.6 | ) |
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