IAMGOLD's 43% Production Increase in 2024: A Springboard for Domestic Growth in 2025

In 2024, IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) achieved a remarkable 43% increase in attributable gold production, reaching 667,000 ounces. This impressive feat was driven by operational improvements across the company's portfolio, setting the stage for continued growth in 2025. Let's delve into the key factors behind this success and explore the potential for further domestic growth.



The ramp-up of the Côté Gold Mine played a significant role in IAMGOLD's 2024 production increase. The mine, which started production in March 2024, contributed 295,000 ounces (199,000 ounces attributable) during the first nine months and an additional 96,000 ounces (62,000 ounces attributable) in the fourth quarter. This rapid ramp-up to commercial production was a major factor in the overall production increase.



In addition to the Côté Gold Mine, IAMGOLD's established operations also contributed to the 2024 production increase. Essakane had a strong year, with attributable production of 118,000 ounces in the first quarter alone, mainly due to higher grades. Westwood, meanwhile, achieved its highest quarterly production since restarting in 2021, with production of 32,000 ounces in the first quarter. Both Essakane and Westwood achieved the top end of their production estimates for the year.

Looking ahead to 2025, IAMGOLD is well-positioned for continued growth. The company anticipates attributable gold production of 735,000 to 820,000 ounces, driven by the ramp-up of Côté Gold to nameplate production later in the year. This increased production from Côté Gold, combined with continued strong production levels from Essakane and Westwood, will help IAMGOLD achieve its 2025 production targets.

To further drive domestic growth in 2025, IAMGOLD could consider strategic acquisitions or partnerships that focus on expanding its resource base, improving operational efficiency, and enhancing its supply chain. By leveraging its existing strengths and exploring new opportunities, IAMGOLD can continue to grow as a leading, modern Canadian gold producer.

In conclusion, IAMGOLD's 43% production increase in 2024 was driven by operational improvements, particularly the successful ramp-up of the Côté Gold Mine. With a strong outlook for 2025, the company is well-positioned to continue its domestic growth trajectory. By pursuing strategic acquisitions or partnerships, IAMGOLD can further enhance its position as a leading Canadian gold producer.