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Iamgold defers Côté expansion, studies bigger build
['Henry Lazenby']
MINING.COM
Iamgold (TSX: IMG)(NYSE: IAG) has deferred a planned expansion of Côté Gold while it studies a much larger build that could nearly double the Ontario mine’s processing rate to 70,000 tonnes a day.
Three months ago, Iamgold expected its year-end study to model an expansion from 36,000 tonnes a day to 50,000-55,000 tonnes.
The report will separately examine larger expansion options.
The larger expansion would not materially change work over the next two to three years.
The plant processed more than 1 million tonnes in June after Iamgold replaced a conveyor belt and commissioned a second cone crusher.