Name of the Project
Côté gold project.

Location
Northern Ontario, Canada.

Client
Iamgold Corporation (70%).
Sumitomo Metal Mining will acquire a 30% participating interest in the Côté gold project.

Project Description
A prefeasibility study (PFS) completed on the project has validated its economic viability.

The project has proven and probable reserves of 5.9-million ounces.

It has an estimated mine life of 17 years, with a mine throughput of 60-million tonnes and mill throughput of 32 000 t/d.
A conventional truck-and-shovel openpit mining operation has been selected as the preferred development option.

A processing circuit incorporating primary and secondary crushing; tertiary high-pressure grinding roll crushing; ball milling; gravity concentration and cyanide leaching; followed by gold recovery using carbon-in-pulp, stripping and electrowinning, has been determined as the most effective method of mineral processing.

The crushing-grinding circuit being used is more energy efficient than a standard semiautogenous, or a precrush circuit, and uses less crushing and grinding media. The PFS has proposed a thickened tailings management facility. The mine site will be powered by a 44 km tap line connection to Hydro One’s Shining Tree substation.

Jobs to Be Created
Not stated.

Net Present Value/Internal Rate of Return
The project has an internal rate of return of 16.7%, with a payback of 4.5 years.
The project has a pretax net asset value estimated at $1.06-billion.

Value
Initial capital expenditure has been estimated at $1.05-billion.

Duration
Not stated.

Latest Developments
The PFS has cleared the way for Iamgold to initiate a feasibility study and support the permitting process. The feasibility study is expected to be completed in the second half of 2018.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Iamgold Corporation VP investor relations  Ken Chernin, tel +1 416 360 4743 or email info@iamgold.com.