Work continues at Quebec gold mine

Iamgold Corp. has just announced that it plans to spend $315 million to complete work at its Westwood gold pro...

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Iamgold Corp. has just announced that it plans to spend $315 million to complete work at its Westwood gold project located about 420 km northeast of Montreal. The company has already spent about $86 million on the project and says it sees a total capital expenditure of $401 million on the project.

  About $102 million will be spent in 2010.

  Iamgold says it expects to produce about 180,000 – 200,000 ounces of gold a year at Westwood. It sees operating costs at $358 an ounce with an average cash cost at $352 an ounce after the project achieves commercial production in 2013.

 

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