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IAMGOLD Receives Key Federal Approval for the Côté Gold Project; Provides Project Update
Toronto, Ontario--(Newsfile Corp. - June 29, 2020) -   IAMGOLD Corporation (TSX: IMG) ("...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Receives Key Federal Approval for the Côté Gold Project; Provides Project UpdateAll monetary amounts are expressed in U.S. dollars, unless otherwise indicatedToronto, Ontario--(Newsfile Corp. - June 29, 2020) -  IAMGOLD Corporation (TSX: IMG) (\"IAMGOLD\" or the \"Company\") confirms that it has received approval for its application under Section 36 of the Fisheries Act (Canada) for the Côté Gold Project (\"Côté\", the \"Project\"), a key milestone in attaining permits relating to impacts on fish habitats and tailings management. Final publication of the amended Schedule 2 of the Metal and Diamond Mining Effluent Regulations is expected on July 8, 2020.Côté, located in northern Ontario, is a 70/30 Joint Venture (\"JV\") with Sumitomo Metal Mining (\"SMM\"), demonstrating potential 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. The JV has been very active in de-risking the Project since the feasibility study (\"FS\") was published in late 2018 (see news release dated November 1, 2018). As of the end of May 2020, the Company provides the following updates on the project: Project Development:Completed additional resource and geotechnical studies, and advanced mine planning;Completed over 60% of detailed project engineering, including the tailings facility;This level of engineering has enabled the project to obtain firm bids and secure prices on all major equipment. To date, 55% of project cost has firm pricing, further reducing technical and cost risks for the Project leading to a refinement in costs and metrics as we work toward a construction decision. The Company's share of the anticipated go-forward range for capital is $875 - 925 million*;Completed a pre-construction camp on the adjacent Chester site; Completed all tree clearing needed for initiating construction; work was carried out with a First Nations partner firm earlier in 2020, before standing down in respect of the global COVID-19 crisis;Carried out detailed implementation studies on technology, including automated truck haulage and drilling and commenced discussions with regulators regarding the use of automated equipment; Advanced development of construction protocols in consideration of COVID-1...