Welcome to our dedicated page for IAMGOLD news (Ticker: IAG), a resource for investors and traders seeking the latest updates and insights on IAMGOLD stock.
About IAMGOLD Corporation
IAMGOLD Corporation (NYSE: IAG, TSX: IMG) is a Canada-based intermediate gold producer and developer with a diversified portfolio of operating mines, development projects, and exploration assets. The company operates in North America and West Africa, with a focus on responsible mining practices and long-term value creation. IAMGOLD’s operations are guided by its 'Zero Harm' vision, emphasizing safety, environmental stewardship, and community engagement.
Core Operations
Côté Gold Mine: Located in Ontario, Canada, the Côté Gold Mine is a flagship asset for IAMGOLD. The mine commenced production in 2024 and is one of the largest gold mines in Canada. It features advanced technologies such as autonomous haul trucks and high-pressure grinding rolls (HPGR), demonstrating IAMGOLD’s commitment to modern, efficient mining practices.
Essakane Mine: Situated in Burkina Faso, the Essakane Mine is a cornerstone of IAMGOLD’s West African operations. It is known for its strong cash flow generation and ongoing exploration efforts to extend its mine life. The mine has consistently delivered stable production levels while navigating regional challenges.
Westwood Mine: Located in Quebec, Canada, the Westwood Complex includes underground mining operations and the Grand Duc open pit. Following a successful redevelopment, Westwood has become a profitable operation with significant potential for future growth.
Development and Exploration
Nelligan Project: This 100%-owned project in Quebec has shown remarkable growth in its Mineral Resource estimates, positioning it as one of Canada’s largest gold projects. Nelligan remains open for further exploration, offering significant upside potential.
Gosselin Zone: Adjacent to the Côté Gold Mine, the Gosselin Zone is a high-potential exploration target. Ongoing drilling aims to convert Inferred Mineral Resources to Indicated and expand the resource base.
Commitment to Sustainability
IAMGOLD is dedicated to maintaining high Environmental, Social, and Governance (ESG) standards. Its 'Zero Harm' vision underscores its commitment to responsible mining, community partnerships, and minimizing environmental impact. Initiatives include biodiversity assessments, water stewardship frameworks, and decarbonization strategies.
Strategic Priorities
IAMGOLD’s strategic focus includes ramping up production at Côté Gold to achieve nameplate capacity, extending the mine life at Essakane, and advancing exploration projects like Nelligan and Monster Lake. The company also aims to optimize its balance sheet and improve its capital structure to support sustainable growth.
Market Position
With its diversified asset base, strong operational performance, and commitment to innovation and sustainability, IAMGOLD is well-positioned as a leading mid-tier gold producer. Its focus on long-life, high-quality assets and responsible mining practices sets it apart in the competitive gold mining sector.
IAMGOLD has announced positive assay results from its 2024 drilling program at the Nelligan Project in Quebec, Canada. The program confirmed extensions of mineralized zones across three areas: Zone 36, Renard Zone, and Footwall Zone, with significant gold intersections. Notable results include intersections of up to 48.8m at 1.48 g/t Au in Zone 36, 34.5m at 2.57 g/t Au in Renard Zone, and 54.5m at 0.95 g/t Au in Footwall Zone.
Additionally, IAMGOLD updated the Monster Lake Project's mineral resource estimate, reporting 84,200 ounces of indicated resources at 11.0 g/t Au and 488,500 ounces of inferred resources at 14.4 g/t Au, representing a 32% increase in inferred resources.
Metalla Royalty & Streaming (NYSE American: MTA) (TSXV: MTA) reports portfolio updates for several projects:
Gosselin (1.35% NSR): Drilling has extended mineralization outside the current resource pit shell, including potential connection between Côté and Gosselin deposits.
Endeavor (4.0% NSR): $20M funding secured for mine restart, with production expected in H1-2025. Recent drilling shows potential for increased ore extraction rates.
La Guitarra (2.0% NSR): Mining ramp-up continues, with commercial production expected before year-end. Current throughput averages 350 tonnes per day.
Joaquin (2.0% NSR): New operator plans comprehensive exploration program to boost resource estimate and publish maiden JORC (2012) MRE in H1-2025.
IAMGOLD has provided an update on its Côté Gold Mine operations and exploration activities. Key highlights include:
- Q3 2024 gold production of 68,000 ounces (41,000 ounces attributable)
- Processing plant ramp-up on track to reach 90% of 36,000 tpd design capacity by year-end
- Mining activity totaled 10.4 million tonnes in Q3 with improved strip ratio of 2.3:1
- Mill throughput doubled to 1.6 million tonnes in Q3 compared to Q2
- Record daily throughput of 40,900 tpd achieved after September shutdown improvements
- Gosselin Zone exploration drilling outlined extensions outside the resource pit shell
- Significant drill intercepts include 368.8m at 0.96 g/t Au and 235.0m at 2.70 g/t Au
The company remains focused on ramping up Côté to 90% throughput by year-end and achieving nameplate capacity in 2025. Exploration results continue to demonstrate potential for Côté and Gosselin zones to connect and expand.
IAMGOLD (NYSE: IAG) (TSX: IMG) has announced the release date for its third quarter 2024 operating and financial results. The company will publish the results after market hours on Thursday, November 7, 2024. A conference call with senior management to discuss the performance and results is scheduled for Friday, November 8, 2024, at 8:30 a.m. (Eastern Time).
Investors and interested parties can access the conference call through various options:
- Webcast from the events section of IAMGOLD's website
- Pre-registration via Chorus Call (recommended)
- Toll-free number for North America: 1 (844) 763-8274
- International number: 1 (647) 484-8814
An online archive of the webcast will be available on the company's website, and a telephone replay will be accessible for one month following the call.
IAMGOLD (TSX: IMG) (NYSE: IAG) has provided an update on its operations in Burkina Faso following media reports about a radio interview with President Traoré. The President discussed various topics, including a reference to potentially withdrawing mining permits from companies violating Burkina Faso's laws. IAMGOLD is not aware of any potential challenge to its permits for the Essakane mine, which continues to operate in compliance with regulations.
The company reports a constructive and positive working relationship with the government, demonstrated by coordination on security and community service. IAMGOLD recently received its 2024 dividend, approved earlier by the government. The Essakane mine is expected to produce between 380,000 to 410,000 ounces of attributable gold in 2024, with cash costs ranging from $1,175 to $1,275 per ounce.
IAMGOLD (TSX: IMG) (NYSE: IAG) has announced its intention to repurchase a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining Co., The company has provided Sumitomo with the required 60 days formal notice for this transaction, which is expected to close on November 30, 2024. This repurchase will restore IAMGOLD's ownership in Côté Gold to its original 70% interest. The 9.7% stake was previously transferred to Sumitomo as part of a JV funding and Amending Agreement dated December 19, 2022. This move signifies IAMGOLD's commitment to regaining full control of its initial stake in the Côté Gold project.
IAMGOLD (NYSE: IAG) reported strong Q2 2024 results, with attributable gold production hitting 166,000 ounces, driven by Essakane and Westwood, and the start of production at Côté Gold.
The company achieved revenues of $385.3 million from sales of 167,000 ounces at an average price of $2,294 per ounce. Net earnings were $84.5 million with adjusted net earnings of $0.16 per share. IAMGOLD's liquidity stood at $915.7 million with cash and cash equivalents of $511.4 million.
Key milestones included Côté Gold reaching commercial production and surpassing throughput rates of 36,000 tonnes per day. Production guidance for 2024 has been raised to 495,000-540,000 ounces, up from 430,000-490,000 ounces. Cost guidance was lowered, with cash costs expected at $1,175-$1,275 per ounce and AISC at $1,700-$1,825 per ounce.
The company completed a $300.2 million equity financing to repurchase a 10% interest in Côté. IAMGOLD also aims to reach 90% throughput at Côté by year's end, with cash costs of $700-$800 per ounce.
IAMGOLD (NYSE: IAG) announces that its Côté Gold Mine in Ontario, Canada, has achieved commercial production. The mine, operated as a joint venture with Sumitomo Metal Mining Co., , reached this milestone by operating at an average of 60% of its 36,000 tpd nameplate throughput for 30 consecutive days.
CEO Renaud Adams highlighted the achievement and the team's efforts in ramping up operations since the first gold pour on March 31, 2024. The company aims to improve plant availability and reach 90% of nameplate throughput by year-end. IAMGOLD plans to repurchase a 9.7% interest in Côté in November, increasing its ownership to 70%.
The company will report its Q2 2024 results on August 8, 2024, followed by a conference call on August 9, 2024.
IAMGOLD (NYSE: IAG) (TSX: IMG) has announced the release date for its second quarter 2024 operating and financial results. The company will publish the results after market hours on Thursday, August 8, 2024. A conference call with senior management to discuss the performance and results is scheduled for Friday, August 9, 2024, at 8:30 a.m. Eastern Time.
Investors and analysts can access the conference call via webcast from the company's website or through various dial-in options. Pre-registration is recommended for quick access. A replay of the call will be available online and via telephone for one month following the event.
IAMGOLD (NYSE: IAG) reported the results of its Annual and Special Meeting of Shareholders held on May 29, 2024.
All eight director nominees were elected with over 99% of votes in favor. KPMG LLP was appointed as the auditor with 91.09% approval, while the advisory vote on executive compensation saw 97.93% support.
Additionally, amendments to the share incentive plan were approved by 97.15% of shareholders.
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