{"id":1096531,"date":"2019-01-28T12:58:06","date_gmt":"2019-01-28T12:58:06","guid":{"rendered":"http:\/\/www.mining.com\/?p=965892"},"modified":"2019-01-28T12:58:06","modified_gmt":"2019-01-28T12:58:06","slug":"iamgold-puts-construction-of-canadian-mine-on-ice","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1096531","title":{"rendered":"IAMGOLD puts construction of Canadian mine on ice"},"content":{"rendered":"

Canadian bullion producer\u00a0IAMGOLD Corp. (TSX IMG), (NYSE: IAG) will not proceed with the construction of its C\u00f4t\u00e9 gold project<\/a>, in Ontario, as it\u2019s waiting for improved market conditions before going ahead with the $1.15-billion investment, it said Monday.<\/p>\n

Chief executive Steve Letwin said his company had substantially de-risked the project, located in the Abitibi gold belt, \u00a0and that it continued to believe in its potential.<\/p>\n

Commercial production at C\u00f4te Gold was scheduled to start in 2021, with an expected average annual output of 367,000 ounces over its 167-year life.<\/q><\/p>\n

\u201cHowever, we have decided to wait for improved, and sustainable, market conditions in order to proceed with construction,\u201d Letwin said in the statement<\/a>.<\/p>\n

Building activities were slated to start in the first months of 2019, with pre-production beginning in late 2020, with an expected average annual output of 367,000 ounces of gold over its 16-year life.<\/p>\n

An extended mine plan adds two years to the base case mine plan, increasing production to 372,000 ounces of gold a year.<\/p>\n

The Toronto-based miner will continue to advance engineering and permitting work at C\u00f4t\u00e9, a joint-venture\u00a0with Japan\u2019s Sumitomo Metal Mining<\/a>.<\/p>\n

It also said it would provide further details when reporting fourth quarter and full year 2018 financial results, which will be released after market hours on February 20.<\/p>\n

Shares in IAMGOLD jumped 6.8% in pre-market trading in New York to $3.30, 21 cents more than their closing price on Friday.<\/p>\n

The post IAMGOLD puts construction of Canadian mine on ice<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Building activities at Côté Gold, located in the Abitibi gold belt in Ontario, were slated to start in the first months of 2019, with pre-production beginning in late 2020.<\/p>\n

The post IAMGOLD puts construction of Canadian mine on ice<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[647,1010,1229,679,404,369,1230,1231],"tags":[25,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1096531"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1096531"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1096531\/revisions"}],"predecessor-version":[{"id":1096544,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1096531\/revisions\/1096544"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1096531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1096531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1096531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}