By Kristy Dorsey
Global engineering company Wood has been given the full go-ahead for delivery of a range of services on a massive gold mine project in Canada.
The Aberdeen-based firm will deliver the engineering, procurement and construction management (EPCM) contract for the $1.3 billion (£978 million) Cote Gold open pit mine for main operator IAMGOLD and its joint venture partner, Sumitomo Metal Mining. Located in northern Ontario, Cote contains estimated reserves of more than seven million ounces.
Construction of the mine has now begun, and is expected to be completed in mid-2023. The project is expected to generate more than 1,000 jobs during construction, and support 450 jobs during the estimated 18-year life of the mine.
“This project strengthens our relationship with IAMGOLD as a trusted full life cycle delivery partner and it solidifies Wood’s position as a global leader in the development of gold mines,” said Dave Lawson, head of the mining and minerals division.
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“Beginning with our work on the initial scoping study in 2011, we have worked closely with IAMGOLD to guide the project toward successful execution, helping to identify more than $450m of improvements in net present value.
"We were able to do so because of our unrivalled expertise in gold extraction technology, having worked on some of the largest and most technically complex gold projects in the world.”
Based in Toronto, IAMGOLD currently has three active gold mines on three continents producing 800,000 attributable ounces of gold annually.
“We are pleased to move to construction on the Cote Gold project with our long-time engineering partner Wood,” chief executive Gordon Stothart said. “We look forward to bringing this project from conception to reality with their team.”
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