Wood helps Ontario’s Côté Gold project move ahead
The initial scoping study was in 2011.
Sumitomo Metal Mining
Consulting engineering firm Wood recently received a full notice to proceed on the delivery of engineering, procurement and construction management (EPCM) services for the US$1.3-billion Côté Gold open pit mine in Northern Ontario (see map).
The project is for Toronto-based operator IAMGOLD, supported by Japanese joint-venture (JV) partner Sumitomo Metal Mining. They are seeking to develop the deposit site and unlock estimated contained gold reserves of more than 7 million oz. The project is expected to generate more than 1,000 jobs during construction and 450 during operations.
“This project solidifies our position as a global leader in the development of gold mines,” says Dave Lawson, Wood’s president of mining and minerals. “Beginning with the initial scoping study in 2011, we have worked closely with IAMGOLD to guide the project toward successful execution, helping to identify more than $450 million of improvements in net present value. We were able to do so because of our expertise in gold extraction technology.”
“We are pleased to move to construction on Côté Gold with our long-time engineering partner, Wood,” says Gordon Stothart, president and CEO of IAMGOLD. “We look forward to bringing this project from concept to reality.”
Construction has now commenced and is expected to be completed by mid-2023. When fully operational, the mine should produce an average of 367,000 oz of gold per year, over the course of 18 years.