IAMGOLD Côté Gold Project 
The City of Timmins and its local suppliers are thrilled about the recent announcement from IAMGOLD Corporation about the Côté Gold Project located near Gogama, between Timmins and Sudbury. In June 2017, IAMGOLD announced a joint venture project between IAMGOLD Corporation and Sumitomo Metal Mining Co., (“Sumitomo”) of Japan. The joint venture highlights the Côté Gold Project’s economic potential as this is Sumitomo’s first investment in Canada in over 50 years. 
 
Côté is one of Canada’s largest gold projects with an initial capital expenditure close to $1 billion; it will become a state of the art mine.  The mine life is a minimum of 16-years and the project will create 1,000 construction jobs and 450 full-time jobs when Côté enters production.  This type of economic activity has not been seen in the area in a number of years and is very welcomed news said Fred Gibbons, Chairperson of the Timmins Economic Development Corporation.   

Andrew Marks, Timmins’ Deputy Mayor, stated that “the City and the Timmins Economic Development Corporation have been meeting and assisting IAMGOLD since they started this project.  It is so wonderful to see it come to fruition.  This project is very important to our region and will provide excellent job opportunities for our residents.  It will also provide excellent opportunities for our extensive supplier network to showcase their products and skill sets.  We look forward to continue working with them to facilitate the development of their project and welcome them to our region”.

Ross Woodward, President of The Bucket Shop, stated that “congratulations are in order to all the stakeholders at IAMGOLD who were involved in acquiring the necessary approvals to get the Côté Gold Project launched. Your investment will have a significant positive impact on employment opportunities and on the Timmins economy in general. The City of Timmins and the local companies that service the mining sector are well positioned to provide industry leading support to this project. As a proud member of the Timmins mining services sector we wish you every success in the announcement of the Côté Gold Project launch”.

Val Venneri, Chamber President, stated “we’re pleased to see that the Province has given the green light to the IAMGOLD Côté Project. Our mining supply network is very strong and is looking forward to working with the individuals working on the Côté Project. We know that the mining company has long been awaiting the approval process and this long-term investment in near Timmins will do wonders to help restart our economy. Since the beginning of the pandemic, the mining industry stepped up in support of our local SMEs and we are thankful to have them in our region. IAMGOLD will not only bring new job growth for our region but we will see new families and new interests move to our region to support our tax base. We look forward to our ongoing work together as we continue to promote responsible mining in the Province.”
Posted by Lisa Greer On 8/10/2020 at 1:33 PM  

 
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