This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
IAMGOLD Corporation (NYSE: IAG, TSX: IMG) is a mid-tier gold mining company headquartered in Toronto, Canada. In FY2025, the company produced 765,900 attributable ounces of gold across three operating mines: Cote Gold in Ontario (which reached full nameplate capacity in June 2025 and is among the largest gold mines in Canada), Essakane in Burkina Faso (372,100 attributable oz, with ownership reduced from 90% to 85% in mid-2025), and Westwood in Quebec. All revenue derives from gold extraction — an inherently extractive activity involving open-pit mining, underground operations, cyanide leaching, tailings management facilities, and significant land disturbance. The company's 2026 guidance projects continued production growth with substantial capital expenditures on waste stripping and tailings infrastructure.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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