IAMGOLD Announces Resumption of Operations at Rosebel Mine in Suriname

SEATTLE (Scrap Monster): Toronto, Ontario-headquartered IAMGOLD Corporation announced that it has restarted operations at its Rosebel gold mine in north eastern Suriname. The mine operations were shut on 16^th June, following workers at the mine testing positive for Covid-19. The decision to restart operations at the mine follows advice from the medical experts of the Covid-19 Outbreak Management Team of Suriname.

The miner resumed operations at the mine on Friday, though with reduced staff strength. The company started the process of recalling its workforce this week. The employees and contractors will return to the site to prepare the mine for the restart of milling and drilling activities. The mine operations will follow strict Covid-19 protocols including social distancing, temperature screening etc.

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The resumption of operations at the mine is likely to significantly benefit the company, especially on account of prevailing high gold prices. It must be noted that the Rosebel mine contributes nearly 30% of the company’s total gold production.

The Canadian miner had recently cut the annual gold production estimates for 2020. With the ongoing uncertainties surrounding the pandemic spread and its potential impacts on gold sector, the company foresees its operating activities and financial results for the year to take a hit. Meantime, IAMGOLD is due to release its quarterly financial results on August 5^th.