New IAMGOLD boss pleased with the pace of progress at Côté project
Construction at IAMGOLD Côté open-pit mine has reached the 80 per cent completion mark. The project is on schedule for a first gold pour and the start of production in early 2024. “All eyes are on Côté,” said IAMGOLD company-CEO Renaud Adams in a May 12 webcall with analysts on the Toronto gold company’s first-quarter 2023 results.
Construction activity is now at the peak period with more than 1,500 workers on site. Adams said the Toronto gold company is “turning the corner” toward becoming a leading mid-tier producer. The Côté deposit, he said, will provide a “substantial” impact as a “cornerstone asset” for IAMGOLD as a potential district-scale operation in northeastern Ontario.
When in full operation, Côté will be the third largest gold mine in Canada, the company said. As contractors carve out the pit, mining operations have essentially started.
Côté will be a state-of-the-art operation with autonomous haul trucks and drill rigs on site. The trucks are on site and autonomous hauling began in January. About one million tonnes of ore was stockpiled during the first quarter of this year with a targeted build-up of 5 million tonnes by year’s end. By summer, Côté will progress to a 24-hour mining operation with the addition of a night shift.
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