lAMGOLD Reports Mineral Resources and Reserves for the Year Ended 2025
Executive Summary
- IAMGOLD released its year‑end 2025 NI 43‑101 mineral resource and reserve estimates, showing a 31.0 Moz Measured & Indicated (M&I) gold resource (24.6 Moz attributable) and 9.9 Moz Proven & Probable (P&P) gold reserves (7.5 Moz attributable).
- M&I resources increased 16% year‑over‑year, driven by upgrades at Côté Gold, Westwood and the newly acquired Nelligan Mining Complex (including Philibert and Chevrier).
- P&P reserves fell 7% to 9.9 Moz due mainly to depletion at Côté Gold and Essakane, partially offset by reserve additions at Westwood.
Key Details
- Overall Mineral Reserves (100% basis) – 9.9 Moz Au (7.5 Moz attributable); down 796 koz (‑7%) vs. 2024.
- Côté Gold reserves ↓ 301 koz (depletion).
- Westwood underground reserves ↑ 125 koz; Grand Duc open‑pit reserves ↑ 20 koz.
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Essakane reserves ↓ 640 koz (depletion & model adjustments).
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Measured & Indicated Resources (100% basis) – 31.0 Moz Au (24.6 Moz attributable); up 4.3 Moz (+16%).
- Côté & Gosselin M&I ↑ 12% → 18.2 Moz (12.7 Moz attrib.).
- Westwood M&I ↑ 682 koz to 2.4 Moz (79% tonne increase, grade down 22%).
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Nelligan Mining Complex total M&I ↑ 32% to 4.34 Moz (incl. Philibert & Chevrier).
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Inferred Resources – 12.5 Moz Au (11.3 Moz attributable); down 0.3 Moz (‑2%).
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Gold Price Assumptions for Estimates
- Reserves: $2,000/oz (Westwood & Essakane), $1,700/oz (Côté).
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Resources: $2,500/oz (Essakane, Westwood, Nelligan, Monster Lake, Gossey), $2,100/oz (Côté).
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Exploration Budgets – $24 M allocated for the 2026 exploration program at the Nelligan Mining Complex to test Philibert, expand Nelligan, and drill Monster Lake at depth.
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Drilling Plans – Côté & Gosselin drilling increased to ~53,750 m in 2025; results will feed a Q4‑2026 technical report targeting an expanded Côté Gold mine plan.
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Acquisitions – Philibert and Chevrier added via the Northern Superior transaction (closed Dec 2025). Their combined M&I resources now total ~4.34 Moz Au.
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Divestiture Update – The definitive agreement to sell the Diakha‑Siribaya Gold Project (Mali) expired 31 Dec 2024; alternative sale options are being pursued.
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Qualified Persons – Christine Beausoleil, P.Geo., and Adrienne Rispoli, P.Eng., signed off on the resource and reserve estimates respectively.
Notable Quotes
“IAMGOLD today has 31 million ounces in Measured and Indicated Resources … positioning the company among the largest endowments of gold resources among mid‑tier gold producers.” – Renaud Adams, President & CEO
“All eyes this year will be on Côté Gold… a technical report to be delivered in Q4 2026 will outline a mine plan incorporating a plant expansion.” – Renaud Adams
Materiality: Material – Positive (significant, favorable update to the company’s gold resource base and strategic outlook).