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IAMGOLD hits 'key milestone' permitting for Côté Gold project

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(Kitco News) - IAMGOLD (TSX:IMG) said Monday it received approval for its application under Section 36 of the Fisheries Act (Canada) for the Côté Gold project, a key milestone in attaining permits relating to impacts on fish habitats and tailings management.

IAMGOLD said a formal decision on the construction of the Côté Gold Project will be made in conjunction with IAMGOLD's partner, Sumitomo Metal Mining. Sumitomo has 30% of the project. IAMGOLD has 70%.

The company is anticipating a formal decision to proceed in the coming months. A targeted completion date is set for mid-2023.

The mine is expected to produce 460,000 ounces of gold annually at low all-in sustaining costs of approximately $700 per ounce in the first six years of production with a 16-year mine life.

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