Engineering and consulting company Wood has received a authorisation to deliver engineering, procurement and construction management (EPCM) services for the $1.3bn Côté Gold open pit gold mine in Canada.

Operated by mining company Iamgold, the Côté Gold project in northern Ontario is expected to host gold reserves of more than 7 million ounces.

Under the new contract, the company will be responsible for EPCM services for the 36,000 tonnes per day conventional gold processing plant, tailings and water management.

Wood has been associated with the Côté Gold Project for nearly eight years and worked with IAMGOLD to deliver design and project delivery solutions.

Wood Mining & Minerals president Dave Lawson said: “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.

“Beginning with 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.”

In July, IAMGOLD, along with its joint venture (JV) partner Sumitomo Metal Mining, commenced the construction of the Côté Gold mine. The step was taken after the company secured key approval in June.

The construction works are slated to complete in mid-2023.

Once operational, the Côté Gold mine will deliver an average of 367,000 ounces of gold per annum through its 18-year lifespan.