Côté Gold drives IAMGOLD’s record production and promises growth for 2025

by Kevin Vincent
IAMGOLD Corporation has announced its preliminary 2024 results, with Côté Gold playing a pivotal role in a year marked by growth and milestones. The Company achieved attributable gold production of 667,000 ounces, within guidance, thanks in large part to the ramp-up of Côté Gold, which produced 199,000 ounces in its first nine months of operation.
“Côté Gold has set a new benchmark for ramp-ups in large-scale open-pit gold mining,” said Renaud Adams, President and CEO of IAMGOLD. “In its inaugural year, the mine showcased remarkable progress, contributing 124,000 attributable ounces and hitting monthly records of 37,000 ounces in November and December. These achievements solidify Côté’s role as a cornerstone of IAMGOLD’s future growth.”
Côté Gold: 2024 Highlights and 2025 Outlook
Côté Gold achieved major milestones in 2024, including:
• First Gold Pour: March 31, 2024.
• Commercial Production: August 1, 2024.
• Strong Production: 96,000 ounces in Q4 2024, including record daily throughput of 42,635 tonnes.
• Ramp-Up Momentum: Processing rates reached 87% of nameplate capacity in December.
Looking ahead, Côté Gold is expected to produce 250,000 to 280,000 attributable ounces in 2025, nearly doubling its 2024 output. The mine aims to achieve a steady-state nameplate throughput rate of 36,000 tonnes per day (tpd) by the fourth quarter. With ongoing enhancements, including the addition of a secondary crusher, production is expected to rise sequentially throughout the year.
“Côté is not only transforming IAMGOLD’s production profile but also redefining what a modern Canadian gold mine can achieve,” Adams emphasized. “As we integrate improvements and ramp up throughput, we are laying the groundwork for Côté to be one of Canada’s premier gold assets.”
2025 Guidance and Broader Company Outlook
IAMGOLD anticipates attributable production of 735,000 to 820,000 ounces in 2025, driven by Côté Gold’s ramp-up and continued strong performance from Essakane and Westwood. Cost efficiencies are expected to improve throughout the year, with all-in sustaining costs (AISC) guided at $1,625 to $1,800 per ounce.
Beyond production, IAMGOLD is exploring the potential to expand Côté’s mine plan to include its full resource base, comprising over 16.5 million ounces of measured and indicated resources and 4.2 million ounces of inferred resources from the Côté and Gosselin zones.
“Côté’s success reflects IAMGOLD’s commitment to becoming a leading modern Canadian gold producer,” Adams concluded. “With its robust performance, our outlook for 2025 is stronger than ever, as we focus on delivering value for all stakeholders and positioning Côté as a top-tier gold mine.”
IAMGOLD will release its full 2024 financial results on February 20, 2025. The Company remains on track to advance its vision of sustainable growth and operational excellence through its cornerstone asset, Côté Gold.
Tags: Northern Ontario / Operational Updates / Gold / All Articles