Loading ...Iamgold and 30% joint-venture partner Sumitomo Metal Mining have decided to move ahead with their Côté gold project in northern Ontario.
Construction at the $1.3 billion, open-pit project is slated to begin in the third quarter, with commercial production expected in the second half of 2023. Over 60% of detailed project engineering is already complete.
Iamgold estimates its 70% of the capex will be C$875-925 million.
Located 20 km southwest of Gogama, Côté is expected to produce 367,000 oz. gold annually over a mine life of 18 years, with the mill processing 36,000 tonnes of ore per day.