The downward revision of production guidance at Westwood will dampen the share price.
Unstable ground conditions are proving to be a major hindrance for Iamgold at the Westwood gold mine, in the Doyon-Bousquet – LaRonde mining camp in Quebec.
Seismic issues – mostly mining-related – at underground mines in the region are nothing new and can require extensive monitoring and management.
But, after a couple sizeable rock bursts, Iamgold is now having to peddle back on projections and reconsider how much gold it can produce at the mine.
Back in January four Iamgold workers were stuck, briefly, underground after a rock fall blocked access. Then, in a similar incident in May, nine workers were again blocked by a rock fall. Continue Reading →