Industry Thoughts:
Production and Development in Ontario
“Currently, Rainy River is entering the next phase focusing on optimization, free cash flow and profitability. The mine is to transition from open-pit to underground, and we will start mining in 2022 from the far east zone of entropy. When the pit is depleted in 2026 it will transition to a full underground operation. New Gold will be one of the few mines combining open-pit and underground.”
Renaud Adams, President and CEO, New Gold


"We are very excited about Côté. It is a tier one, multi-generational asset located approximately halfway between Timmins and Sudbury and sits 6 km off the highway, giving us excellent access to skilled labor, hydropower and transportation routes. Côté is a 70%-30% joint venture between IAMGOLD and Sumitomo Metal Mining, and currently has an 18-year mine life on a reserve base of over 7 million oz Au on 100% basis. The project is expected to produce close to 500,000 oz/y for the first five years, with life of mine average of 367,000 oz/y at all-in sustaining costs of US$802/oz."
Daniella Dimitrov, President, CFO and Interim CEO, IAMGOLD
“One key accomplishment at Young-Davidson was our innovative solution to sink their shaft. We developed a method that required no one to be inside the shaft for excavation by using a raise bore to excavate the shaft and then install the hoisting plant over the top. There was a raise bore machine pulling up a reamer used for excavation and we relied on directional drilling technology to ensure a straight shaft. We are replicating this model also in projects in the US.”
Eric Smith, Managing Director, Cementation Americas

