{"id":1160305,"date":"2020-01-16T05:52:32","date_gmt":"2020-01-16T11:52:32","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011431"},"modified":"2020-01-16T05:52:32","modified_gmt":"2020-01-16T11:52:32","slug":"iamgolds-2019-production-falls-short-ceo-to-retire","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1160305","title":{"rendered":"IAMGOLD\u2019s 2019 production falls short, CEO to retire"},"content":{"rendered":"<p>Canada\u2019s\u00a0IAMGOLD Corp. (TSX IMG), (NYSE: IAG) announced on Thursday that chief executive officer Stephen Letwin\u00a0<a href=\"https:\/\/www.iamgold.com\/English\/investors\/news-releases\/news-releases-details\/2020\/IAMGOLD-Announces-CEO-Succession-Gordon-Stothart-Appointed-Stephen-Letwin-Retiring\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">will retire at the end of February<\/a> after a decade at the company, with the post to be assumed by the current president and chief operating officer\u00a0(COO) Gordon Stothart.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The news comes on the same day the Toronto-based\u00a0miner posted <a href=\"https:\/\/www.iamgold.com\/English\/investors\/news-releases\/news-releases-details\/2020\/IAMGOLD-In-Line-with-Production-and-AISC-Guidance-for-2019-Provides-Two-Year-Forward-Guidance\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\"preliminary operating results for 2019 (opens in a new tab)\">preliminary operating results for 2019<\/a>, which show output fell short of IAMGOLD\u2019s target\u00a0for the year.<\/p>\n<p>Attributable gold production last<br \/>\nyear reached 726,000 gold ounces, compared to the 765,000 to 810,000 ounces the<br \/>\ncompany expected. Fourth quarter output totalled 192,000 ounces.<\/p>\n<p>Upcoming CEO Stothart warned that<br \/>\n2020 would be a year of transition for the miner, as focuses on the future of<br \/>\nEssakane and Rosebel, continues development of Westwood and brings its 70:30<br \/>\nSaramacca joint venture (JV) project with the government of Suriname&nbsp;up to<br \/>\nfull production. <\/p>\n<p>IAMGOLD <a href=\"https:\/\/www.mining.com\/iamgold-reports-incident-at-rosebel-mining-activity-suspended\/\"  rel=\"noreferrer noopener\">halted work at Rosebel, also in Suriname, in August<\/a>,<br \/>\nfollowing an incident involving police that caused the death of an artisanal<br \/>\nminer and left some equipment unusable.<\/p>\n<p>Shortly after, it laid off 325<br \/>\ncontractors for&nbsp;the South American mine and lowered its production<br \/>\nforecast for the year to between 765,000 to 810,000 ounces of gold, to reflect<br \/>\nthe operation\u2019s halt.<\/p>\n<p>The company, however, ended up re-hiring the dismissed workers after reaching an agreement with the local community, which <a href=\"https:\/\/www.mining.com\/iamgold-resumes-operations-at-gold-mine-in-suriname\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">allowed it to resume operations<\/a>.<\/p>\n<p>Rosebel, located&nbsp;in the<br \/>\nmineral rich Brokopondo district, about 85 km south of the capital city of<br \/>\nParamaribo, has often been a target for illegal miners. This has led the<br \/>\ncompany to allow some artisanal miners to work on the concession.<\/p>\n<p>Looking forward, IAMGOLD expects to produce between 700,000 and 760,000 ounces of gold in 2020, which reflects no output at Sadiola, which is in the process of <a href=\"https:\/\/www.mining.com\/anglogold-iamgold-to-sell-stake-in-malis-sadiola-mine\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">being acquired by Australia\u2019s Allied Gold Corp<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Attributable gold production last year reached 726,000 gold ounces, compared to the 765,000 to 810,000 ounces the company expected.<\/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":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1160305"}],"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=1160305"}],"version-history":[{"count":6,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1160305\/revisions"}],"predecessor-version":[{"id":1160405,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1160305\/revisions\/1160405"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1160305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1160305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1160305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}