OUAGADOUGOU, April 16 Canadian gold miner
IAMGOLD Corp plans to spend around $360 million to
boost output at its Essakane gold mine in northeastern Burkina
Faso, a company official said on Tuesday.
The work began in October and will include an extension of
the main pit, excavation of a new satellite pit and construction
of a road linking the two sites.
"The expansion aims to increase extraction capacity from 32
million tonnes of ore annually to 56.5 million tonnes," Gilles
Helu, the mine's health and security director, said in Tuesday's
edition of the state-owned newspaper Sidwaya.
"The global processing output for the factory will be
reinforced, increasing for 9 million tonnes of ore per year to
10.8 million tonnes," he said.
The expansion will extend the life of the mine into 2025 and
create an additional 900 jobs, the paper said.
IAMGOLD acquired a 90 percent stake in the Essakane mine in
2009, with the rest held by the government of Burkina Faso. The
mine contains reserves of 3.9 million ounces and produced
337,000 ounces of gold attributable to IAMGOLD in 2011.