Business
IAMGOLD Provides Preliminary Operating Results for the Third Quarter 2021
Toronto, Ontario--(Newsfile Corp. - October 18, 2021) - IAMGOLD Corporation  (TSX: IMG) ...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Provides Preliminary Operating Results for the Third Quarter 2021Toronto, Ontario--(Newsfile Corp. - October 18, 2021) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (\"IAMGOLD\" or the \"Company\") today provides preliminary operating results for the third quarter of 2021. All dollar amounts are in US dollars unless otherwise indicated.Gordon Stothart, President and CEO of IAMGOLD commented, \"We achieved attributable production of 153,000 ounces during the third quarter and are pleased that our total attributable production is trending towards the upper end of the guidance range. Essakane continues to deliver strong results and Rosebel is performing in line with the updated plan. Production at Westwood was lower than plan, although underground mine productivity is improving while we continue to prioritize implementing safety measures as part of the business recovery plan. The teams continue to respond and adapt successfully to the challenges we experienced in the first half of the year.\"PRELIMINARY OPERATING RESULTSThe following table summarizes preliminary third quarter operating results on an attributable basis for certain metrics. Q3 2021Q2 2021YTD 2021Full Year Guidance 2021Essakane (000s oz)1106106314390 - 400Rosebel (000s oz)14025112140 - 160Westwood (000s oz)1782235 - 45Total attributable production (000s oz)153139448565 - 605   1.  Consists of Essakane, Rosebel and Westwood on an attributable basis of 90%, 95% and 100%, respectivelyCapital expenditures for Essakane, Rosebel and Westwood in the third quarter totaled $67 million and $166 million for the nine months ended September 30, 2021. It is expected that capital spending for the year at our operations will be lower than the full year guidance of $260 million mainly relating to the timing of spending on various capital improvements. Capital expenditures at our projects, including Côté Gold, totaled $72 million and $228 million in the third quarter and the nine months ended September 30, 2021, respectively, and are expected to be lower than our full year guidance of $485 million. The Côté Gold project remains on track for commercial production in the second half of 2023. Cash, cash equivalents and short term investments totaled $748.3 million at September 30, 2021.Review of OperationsEssakane MineEssakane continued ...