IAMGOLD Outdid Gold Output and Cost Targets in H1 2024

SEATTLE (Scrap Monster): Toronto, Ontario-headquartered IAMGOLD Corporation reported robust second quarter and first half 2024 financial and operating results. The miner exceeded the gold production and cost targets during the initial six-month period of the current year.

The attributable gold production stood at 166,000 ounces and 317,000 ounces in Q2 and H1 this year respectively. The Essakane and Westwood operations reported robust performance. The Q2 and H1 revenues totalled $385.3 million and $724.2 million respectively. The sales for the quarter and half-yearly period was 167,000 ounces and 330,000 ounces respectively. The net earnings per share for the quarter stood at $0.16, whereas that for H1 this year was $0.27.

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According to company press release, the production guidance at Essakane and Westwood has been increased to 495,000 to 540,000 ounce, higher when compared with the previous guidance of 430,000 to 490,000 ounces. Also, it has revised the cash cost guidance and all-in sustaining cost (AISC) guidance.

Renaud Adams, President and Chief Executive Officer of IAMGOLD stated that the company is proud of its achievements during the first half of the year. He commended the Essakane team for surpassing a record health and safety milestone of 5 million hours worked without a recordable safety incident.