Canadian Mining Journal

News

GOLD: Iamgold cuts Westwood workforce by 32%



The Westwood gold mine in Quebec. (Image: Iamgold)

QUEBEC – Iamgold Corp. has announced a 32% reduction in the workforce at its Westwood gold mine 40 km east of Rouyn-Noranda and only 2.5 km east of the former Doyon gold mine. The process is to begin this week.

A planned reduction due to the stage of mine development and a realignment due to the 2019 guidance numbers were considered in making the decision, said Iamgold. Westwood production is to be between 100,000 and 120,000 oz. of gold this year. The workforce reduction is also intended to be a cost control measure.

Iamgold is developing a revised life of mine plan for Westwood, and it is due in Q4 2019.

At the end of 2018, Westwood had proven reserves of 1.3 million tonnes grading 7.9 g/t gold  and probable reserves of 3.6 million tonnes grading 7.5 g/t gold. There are an estimated 1.2 million oz. of gold contained in the reserves.

Readers can view the most recent corporate presentation at www.Iamgold.com.