Canadian gold miner Iamgold has announced that it will temporarily lay off 437 workers at its Westwood gold mine in Quebec.
This represents a reduction in the working personnel by about 70%. Operations remain suspended at the mine site due to a seismic event which took place last month.
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Westwood is located on the Doyon property, 2.5km east of the former Doyon mine in the Bousquet Township.
The mine started production in the Q1-2013 and is the only underground mine in the Iamgold portfolio.
The cause of the seismic activity is currently being investigated.
Iamgold said it completed assessing a business recovery plan for the gold mine and the company expects to provide an update on the seismic activity early next year.
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By GlobalDataEarlier this month, the Canadian miner slashed its full-year total attributable gold production guidance to the range of between 630,000oz and 680,000oz.
Iamgold attributed the drop in production guidance to the suspension of Westwood operations.
Iamgold’s full-year 2019 net loss was recorded at C$395m. The company operates four gold mines across three continents.
In July, Iamgold announced the resumption of operations at Rosebel gold mine located in Suriname.
The company obtained a key federal approval for Ontario’s Côté gold project in June this year.
