BURKINA FASO – The Essakane gold mine owned 90% by Toronto-based IamGold Corp. reached commercial production in mid-July 2010. The project is expected to produce 165,000 to 175,000 oz of gold this year at a cash cost below US$400/oz.
“Bringing a major gold development project into production is a noteworthy accomplishment at any time,” said president and CEO, Peter C. Jones, “and with Essakane, the company’s first African greenfield construction project, IamGold has demonstrated another of its core competencies as a mature gold producer, Essakane’s startup also represents a milestone for Burkina Faso, representing the largest private foreign investment ever undertaken in that country and a significant economic driver for the country moving forward.”
Including Essakane, IamGold expects to produce between 980,000 and 1,0 million oz of gold in 2010. The company operates the Doyon gold mine and Niobec niobium mine in Canada as well as six other gold producers in South America and Africa.
Learn more at www.IamGold.com.