IAMGOLD Corporation has announced preliminary operating results for the fourth quarter and year-end 2020, as well as guidance for 2021.
Gordon Stothart, President and CEO of IAMGOLD, comments:
“We achieved our target production and cost guidance in 2020 in the face of many and varied challenges throughout the year. Essakane had its strongest quarter at the end of the year, Rosebel production was up quarter-over-quarter and Westwood contributed by processing stockpile and Grand Duc open pit ore.
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“Looking forward, IAMGOLD’s unique growth platform will enable our transformation to a lower cost producer of over one million ounces of annual production within the next two-and-a-half years.
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“Our North American platform will see focused execution on the ongoing construction at the Côté Gold Project and we additionally expect to complete a maiden resource estimate at the nearby Gosselin discovery, with further advanced exploration at the Nelligan / Monster Lake district.
“We are developing our West African platform through ongoing de-risking at the Boto Gold Project in Senegal, and through the exploration and evaluation of nearby deposits and new discoveries, along with satellite targets anchored by the Rosebel mine at our South American platform.”
Guidance highlights for 2021
- Attributable gold production between 630,000 and 700,000 oz
- Cost of sales between $980 and $1,030 per oz sold
- Total cash costs between $930 and $980 per oz produced
- All-in sustaining costs between $1,230 and $1,280 per oz sold
- Focus of exploration in 2021 is on district target development, including a maiden resource at Gosselin, advancing the “Hub and Spoke” operational concept at Westwood, regional programs in West Africa with a focus on the Bambouk District, near-site brownfield targets, and ongoing, balanced investment in early-stage greenfield exploration portfolio.
- Capital expenditures of $710 million ± 5%, comprising sustaining capital of $120 million and non-sustaining capital of $590 million.