IAMGOLD reports gold production decline in Q3, says on track to meet its annual guidance
(Kitco News) - IAMGOLD (TSX: IMG) (NYSE:IAG) today reported that the company produced 153 thousand ounces in Q3 2021,4% less than a year before (Q3 2020: 159 thousand ounces).
The company said that its Essakanemine in Burkina Faso continued to deliver strong results and achievedattributable gold production of 106,000 ounces, in line with the prior quarterand an increase of 11% compared to Q3 2020, as increased throughput andimproved recoveries offset the impact of lower grades.
The company's Rosebel mine inSuriname performed in line with the updated plan and achieved attributable goldproduction of 40,000 ounces compared to 42,000 ounces a year ago.
In Canada, production at thecompany's Westwood mine continues to be impacted while the additional safetymeasures are implemented. Gold production in the third quarter of 7,000 ouncesis 13% lower than in the second quarter and 70% lower than a year before.
Importantly, the companypointed out that its total attributable production is trending towards theupper end of the 2021 guidance range and that the C??t?(C) Gold project remains ontrack for commercial production in the second half of 2023.
President and CEO GordonStothart commented, "Essakane continues to deliver strong results andRosebel is performing in line with the updated plan. Production at Westwood waslower than plan, although underground mine productivity is improving while wecontinue to prioritize implementing safety measures as part of the businessrecovery plan. The teams continue to respond and adapt successfully to thechallenges we experienced in the first half of the year."
In addition, as a result ofupdated closure costs in respect of the Westwood mine and a preliminary updatein Rosebel's mine plan, the company said it is reviewing the carrying amount ofthe Westwood and Rosebel mines to determine whether an adjustment is necessary.
IAMGOLD is a mid-tier goldmining company operating in three regions globally: North America, SouthAmerica and West Africa. The company's operating mines include Essakane inBurkina Faso, Rosebel (including Saramacca) in Suriname and Westwood in Canada.The company also owns the C??t?(C) Gold construction project in Canada and the BotoGold development project in Senegal.
By Vladimir BasovFor Kitco News
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