Iamgold affirms 2025 output guidance as Côté ramps up
Canadian miner Iamgold has reaffirmed its full-year production guidance after posting solid first-quarter results, citing strong performance at its new Côté mine, in Canada, and an expected uplift in grades at Essakane, in Burkina Faso, in the second half of the year.
The Toronto-based gold producer said it remained on track to deliver between 735 000 oz and 820 000 oz of attributable gold in 2025, with production forecast to rise each quarter.
First-quarter output came in at 161 000 oz, which the company had previously flagged would be the lightest of the year owing to ongoing ramp-up and maintenance activities at Côté and lower grades at Essakane.
“In the first quarter of 2025, Iamgold achieved important milestones which position the company well for the future,” CEO Renaud Adams said in a statement. He added that recent operating trends at Côté and an improving grade profile at Essakane supported the company’s production targets.
Côté produced 51 000 attributable ounces in the quarter, with a significant ramp-up in March. The plant hit an average throughput of 90% of nameplate capacity during the month, and sustained performance improved further after the quarter, averaging 96% of nameplate capacity over the last 30 days.
“These achievements represent a significant improvement in stability and availability of the Côté plant,” Adams said. “We expect further improvement with the installation of the second cone crusher later in the year… offering the potential for further optimisations and improvements in the near future.”
Iamgold also reported earnings of $0.07 a share and adjusted earnings of $0.10 a share. Revenue reached $477.1-million, reflecting gold sales of 174 000 oz at an average realised price of $2 731/oz. All-in sustaining costs were $1 908/oz.
The company ended the quarter with $316.6-million in cash and $428.5-million of undrawn credit, providing total available liquidity of $745.8-million.
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