IAMGOLD (NYSE: IAG) (TSX: IMG) announced on Monday that the Côté Gold mine has officially achieved its nameplate capacity nearly 15 months after pouring its first gold. Shares of the Canadian miner rose to a near two-month high.
The open-pit mine, located 125 km southwest of Timmins, Ontario, made its first gold pour in April of 2024 and subsequently moved into commercial production in August.
On Monday, IAMGOLD confirmed that the processing plant has been operating at its nameplate capacity of 36,000 tonnes per day on average over 30 consecutive days.
In a press release, CEO Renaud Adams said the work to bring a gold project from first gold to the design nameplate rate within 15 months “exemplifies the commitment to excellence and accountability that is at the core of IAMGOLD.”
Shares of the company surged as high as 9% to C$10.78 apiece in Toronto, the highest since mid-April. By midday, it…
