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Price
Target price
€3.08

€3.08

4.980%
0.146
4.980%
€5.03
 
21:40 / Tradegate WKN: 899657 / Symbol: IAG / Name: IAMGOLD Corp / Stock / Metals & Mining / Mid Cap /
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Description IAMGOLD Corp

Overview of IAMGOLD Corp

IAMGOLD Corp (Symbol: IAG) (WKN: 899657) is an internationally renowned mid-tier gold producer that operates a diversified portfolio of gold mining projects across the globe. With headquarters in Toronto, Canada, the company focuses on sustainable and responsible gold mining, ensuring the well-being of its employees and surrounding communities. IAMGOLD has four operational gold mines situated in Canada, Suriname, and Burkina Faso, along with various development and exploration projects.

Core Operations and Performance

IAMGOLD enjoys a growing production profile, primarily due to its strong operational performance in the past few years. With four operating gold mines, the company's strategy has centered on the efficient and cost-effective production of gold. The core operations include:

1. Essakane Mine (Burkina Faso): The Essakane mine is one of the largest gold mines in Burkina Faso and in West Africa. The open-pit mine is owned by IAMGOLD with a 90% interest and the government of Burkina Faso holding the remaining 10%. The mine began production in 2010 and has been successfully expanding its output every year. In 2020, Essakane produced 365,000 ounces of gold.

2. Westwood Mine (Canada): The Westwood mine, located in Quebec, Canada, is an underground gold mine with an estimated lifetime of over 20 years. IAMGOLD has a 100% interest in this asset. In 2020, the mine produced 45,000 ounces of gold, albeit facing some operational challenges due to seismic events which led to a temporary shutdown.

3. Rosebel Mine (Suriname): The open-pit Rosebel mine operates in Suriname, with IAMGOLD owning a 95% interest and the government of Suriname holding the remaining 5%. In operation since 2004, the mine has consistently performed well and was expanded in 2013. In 2020, it produced 220,000 ounces of gold.

4. Côté Gold Project (Canada): The Côté Gold project, located in Ontario, Canada, is an open-pit gold operation with excellent potential. IAMGOLD has a 70% share in this venture, with the remaining 30% held by Sumitomo Metal Mining. The project is under construction and expected to reach production in 2023, with an anticipated annual production of 400,000 ounces of gold.

Aside from these operational gold mines, IAMGOLD has various development and exploration projects to expand its asset base and production profile. Due to its diverse geographical presence, IAMGOLD can minimize the impact of unpredictable geopolitical factors and maintain a stable production pipeline.

Financial Performance

IAMGOLD has maintained a strong financial standing in recent years, thanks to higher gold prices and efficient cost containment measures. The company's revenue and profitability have seen upward trends, echoing the fact that the management has successfully navigated the volatile global

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