GOLD: Iamgold plans ramp-up for Westwood

[caption id="attachment_1003732489" align="aligncenter" width="400"] The Westwood mine and mill Credit: Iamgold[/caption] QUEBEC – The latest guidance for Iamgold’s Westwood underground mine suggests production of 100,000 oz. to 125,000 oz. of gold a year over the next three to four years – in line with levels achieved over the past eight quarters. All-in sustaining costs are expected at US$1,125 to US$1,225 per oz. over this time period as the company completes a ramp-up at the asset. Additional capital costs are expected to be incurred for access development. Following the ramp-up, steady state production of 130,000 oz. to 145,000 oz. annually is anticipated at AISCs of US$1,000 to US$1,100 per oz. with a mine life beyond 2030. Iamgold expects to use longhole open stoping as the mining method. “With a goal of creating a safe and profitable underground mine, our team of in-house and external experts are developing an achievable, revised mining and development plan for Westwood," Gordon Stothart, Iamgold’s president and COO commented in a release. He added that: "While the first few years of ramp-up are modest, we are working to fill our mill with lower-grade surface material from satellite prospects and with custom feed.” Updated reserves and resources for Westwood are expected in the second quarter of next year, alongside an updated mine plan and technical report. This year, Westwood is expected to contribute 95,000 oz. to 105,000 oz. out of the company’s total attributable guidance of 765,000 oz. to 810,000 oz. for the year. For more information, visit www.Iamgold.com.