Toronto-listed gold miner Iamgold has reported strong operational results for 2024, having produced 667 000 ounces of gold, up 43% from the previous year.
Its major Côté gold mine in Canada was the main contributor to the increase, while its Essakane project in Burkina Faso had an “exceptional year” of operations. The company reported its attributable gold production to be in line with its guidance range of 625 000 - 715 000 ounces, which was revised upwards in mid-2024.
"Since first gold, the [Côté] mine has shown a systematic increase quarter over quarter in throughput and gold production…As we see continuous improvements at Côté, we are confident in the capability of the mine to potentially double the gold production in 2025 as outlined in our guidance," said Iamgold president and CEO Renaud Adams.
According to him, the company is positioned for a very strong 2025 to become a leading, modern Canadian gold producer while strengthening its balance sheet. Its 2025 production guidance is 885 000 - 980 000 ounces of gold.
At Côté, Iamgold will focus on stabilizing operations and achieving nameplate throughput in the fourth quarter and will continue to pursue improvements in mining and processing activities.
It also plans to bring into the mine plan the full resource base estimate of the Côté and Gosselin zones which combine for over 16.5 million ounces of measured and indicated and 4.2 million ounces of inferred resources.
Theodor Lisovoy, Managing Editor, Rough&Polished
