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IAMGOLD Reports Fourth Quarter 2023 Production Results and Commissioning Progress at Côté Gold

Press Release

All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.

Toronto, Ontario- January 22, 2024- IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) is pleased to announce preliminary full year and fourth quarter 2023 production results and progress at the Côté Gold Project, located in Ontario, Canada.

Highlights

  • 2023 attributable gold production of 465,000 ounces which is at the top end of the annual production guidance of 410,000 to 470,000 ounces.
  • Essakane achieved attributable production in the fourth quarter of 108,000 ounces, bringing the full year production to 372,000 ounces, nearing the top end of the annual guidance of 380,000.
  • Westwood achieved production in the fourth quarter of 28,000 ounces, bringing the full year production to 93,000 ounces and beating the annual guidance of 70,000 to 90,000 ounces.
  • Côté Gold commissioning activities progressing well with the start-up of the primary crushing circuit ongoing. Initial production remains on track for March 2024.
  • IAMGOLD to report year-end financial results on February 15, 2024 after market close.

“IAMGOLD finished the year with a strong quarter with both Essakane and Westwood achieving the highest production levels this year,” commented Renaud Adams, President and Chief Executive Officer of IAMGOLD. “As a result, the Company finished the year with total annual attributable production of 465,000 ounces of gold, which was on the upper end of the annual production guidance target of 410,000 to 470,000 ounces of gold. We congratulate the Essakane team who achieved their targets while facing considerable challenges and the Westwood team who continues to execute on the plan to increase production, with a notable achievement of producing approximately 12,400 ounces in December.”

“At Côté Gold, pre-commissioning and commissioning activities are progressing well,” continued Mr. Adams. “Pre-commissioning of the primary crushing circuit is ongoing with full commissioning of the first mined rock delivered to the crusher via our autonomous haul trucks planned for later this week. Next steps include commissioning of the secondary crushing circuit, followed by the grinding and wet circuits towards our target of initial production towards the end of the quarter. This stage of iterative testing and project advancement is critical in order to position the project for a successful and steady ramp up of gold production through the year. Côté Gold is expected to be the third largest gold mine in Canada with an expected mine life exceeding 18 years, repositioning IAMGOLD with a strong foundation of gold production, lower cost profile and exceptional growth opportunities in Canada.”

2023 Production Results

In 2023, IAMGOLD achieved attributable gold production of 465,000 ounces, at the top end of the guidance range of 410,000 to 470,000 ounces, including 136,000 ounces in the fourth quarter. Annual gold sales were 462,000 ounces on an attributable basis at an average realized gold price of $1,955 per ounce. Fourth quarter gold sales were 136,000 ounces on an attributable basis at an average realized gold price of $2,005 per ounce.

Q4 2023 2023
Essakane Westwood Total Essakane Westwood Total
Gold produced, attr.1 koz 108 28 136 372 93 465
Guidance 340 – 380 70 – 90 410 – 470
Material mined kt 12,910 43,348
Waste mined kt 9,693 33,763
Ore mined kt 3,217 239 9,586 1,022
Mill feed kt 3,116 245 11,283 1,034
Mill feed grade g/t 1.32 3.90 1.26 3.03
Gold recovery % 91% 94% 90% 93%

 

  1. Essakane and Westwood production reported on an attributable basis of 90% and 100%, respectively.

Fourth Quarter and Full Year 2023 Financial Results

IAMGOLD will release its fourth quarter and full year 2023 operating and financial results, as well as operating outlook for 2024, after market hours on Thursday, February 15, 2024. Senior management will host a conference call to discuss the operating performance and financial results on Friday, February 16, 2024, at 8:30 a.m. (Eastern Time).

Listeners may access the conference call via webcast from the events section of the Company’s website at www.iamgold.com (webcast link below), or through the following options:

Pre-register via: Chorus Call IAMGOLD Q4 Registration (recommended) – Upon registering, you will receive a calendar booking by email with dial-in details and unique PIN. This process will bypass the operator and avoid the queue.

Toll free (North America): 1 (800) 319-4610

International: +1 (604) 638-5340

Webcast: https://services.choruscall.ca/links/iamgold2023q4.html

An online archive of the webcast will be available by accessing the Company’s website at www.iamgold.com. A telephone replay will be available for one month following the call by dialing toll free 1 (800) 319-6413 within North America or +1 (604) 638-9010 from international locations and entering the passcode: 0658.

About IAMGOLD

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa. The Company is building the large-scale, long life Côté Gold project in Canada in partnership with Sumitomo Metal Mining Co. Ltd., which is expected to commence production in early 2024. In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts in the Americas. IAMGOLD employs approximately 3,300 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance (“ESG”) practices, including its commitment to Zero Harm®, in every aspect of its business. IAMGOLD is listed on the New York Stock Exchange (NYSE:IAG) and the Toronto Stock Exchange (TSX:IMG) and is one of the companies on the Jantzi Social Index (“JSI”), a socially screened market capitalization-weighted consisting of companies which pass a set of broadly based environmental, social and governance rating criteria.

IAMGOLD Contact Information

Graeme Jennings, Vice President, Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883
Toll-free: 1 888 464 9999
info@iamgold.com

IBF4

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