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IAMGOLD production slides in Q2

Kitco News

IAMGOLD (TSX:IMG) said today revenues were $284.6 million, up $38.1 million from the same prior year period, and up $10.1 million from the first quarter 2020, reflecting an average realized gold price of $1,724 per ounce sold.

Attributable gold production from continuing operations was 155,000 ounces, down 29,000 ounces from the same prior year period, and down 15,000 ounces from the first quarter 2020.

The company shaved its guidance from 685,000 to 740,000 ounces to 645,000 to 700,000 due to the suspension of operations on June 12, 2020 at the Rosebel Gold Mine in response to COVID-19 being detected amongst operations personnel.

"This operations suspension was lifted on July 24, 2020 once the Suriname national health authorities confirmed it was safe to do so, and that the appropriate controls have been adopted by personnel to ensure the safety of all employees. COVID-19 prevention protocols implemented include a reduced workforce to promote physical distancing in the camp facilities, which has in turn resulted in modifications to planned production volumes," writes the company.


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