Canadian miner IAMGOLD (TSX: IMG, NYSE: IAG) is expecting strong fourth quarter results at its 95%-owned Rosebel mine in Suriname due to the implementation of projects to improve recoveries, COO Gordon Stothart said.
New leach tanks and some gravity circuit modifications are already delivering higher recoveries compared to Q3, Stothart said during a conference call to discuss third quarter results.
In addition, the miner is accessing higher grade ores thanks to the end of the rainy season, which caused flooding earlier this year.
“We are looking for a big Q4 for Rosebel,” he said. “The grades are scheduled to pick up probably 3-4% above what we realized in Q3.”
Rosebel had attributable gold production of 101,000oz in Q3, down 4.72% year-on-year from 106,000oz due to lower head grades. The average cash cost was US$484/oz.
IAMGOLD also has mines in Canada, Mali, Botswana, Ghana and Burkina Faso; development projects in Ecuador, French Guiana and Canada; and grassroots exploration in West Africa and Latin America, including Peru and Brazil.
