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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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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