© Provided by The Canadian Press
TORONTO — Iamgold Corp. says it has shut down operations at its Westwood underground gold mine in southern Quebec following a "seismic event" on Friday afternoon.
The Toronto-based company says all employees were safely brought to the surface after the event which occurred at about 2:30 p.m. ET.
The company adjusted the way it operates the mine after reporting increased seismic activity there in late 2018. Gold production for 2019 fell 29 per cent to 91,000 ounces due to lower throughput and ore grades.
Modified production guidance for Westwood based on a life of mine plan led to the company recognizing an impairment charge of $395 million in 2019.
The mine, which began commercial production in July 2014, was suspended from March 25 to April 15 this year due to COVID-19 lockdowns in Quebec.
Iamgold says it will provide an update on the mine's status when it announces third-quarter results after markets close on Wednesday.
This report by The Canadian Press was first published Nov. 2, 2020.
Companies in this story: (TSX:IMG)
TORONTO — Iamgold Corp. says it has shut down operations at its Westwood underground gold mine in southern Quebec following a "seismic event" on Friday afternoon.
The Toronto-based company says all employees were safely brought to the surface after the event which occurred at about 2:30 p.m. ET.
The company adjusted the way it operates the mine after reporting increased seismic activity there in late 2018. Gold production for 2019 fell 29 per cent to 91,000 ounces due to lower throughput and ore grades.
Modified production guidance for Westwood based on a life of mine plan led to the company recognizing an impairment charge of $395 million in 2019.
The mine, which began commercial production in July 2014, was suspended from March 25 to April 15 this year due to COVID-19 lockdowns in Quebec.
Iamgold says it will provide an update on the mine's status when it announces third-quarter results after markets close on Wednesday.
This report by The Canadian Press was first published Nov. 2, 2020.
Companies in this story: (TSX:IMG)
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