IAMGOLD resumes operations at gold mine in Suriname

Rosebel mine was temporarily shutter in early August after a clash between illegal miners and police, which left one person dead. (Image courtesy of IAMGOLD)

Canada’s IAMGOLD Corp. (TSX IMG)(NYSE: IAG) has resumed operations in the northern pits of its Rosebel gold mine, in Suriname, after suspending activities earlier this month following an incident involving police that caused the death of an artisanal miner and left some equipment unusable.

Active operations in the southern pits, along with mine development activities at Saramacca joint venture (JV) project, remain suspended, the gold producer said.

Last week, the Toronto-based miner laid off 325 contractors from Rosebel and lowered its production forecast for the year to reflect the mine’s halt.

The new attributable guidance is between 765,000 oz and 810,000 ounces, compared with the previous forecast of 810,000 to 870,000 ounces.

Rosebel has often been a target for illegal miners, which has led the company to allow some artisanal miners to work on the concession.

The Canadian company owns 95% of the gold mine and the government of Suriname holds the remaining 5%. IAMGOLD, which has four operating mines, froze in January construction of its CĂ´tĂ© gold project in Ontario. It added it would wait for improved market conditions before going ahead with the $1.15-bn investment.

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