IAMGOLD’s Essakane Mine Shines in Q3 2025 Despite West African Challenges

IAMGOLD Corporation’s Essakane Mine in Burkina Faso delivered an impressive performance in the third quarter of 2025, reaffirming its role as a cornerstone of the company’s global gold production portfolio. Despite navigating through West Africa’s ongoing challenges, including regional fuel shortages and inflationary pressures, the mine demonstrated exceptional resilience, operational discipline, and financial strength. This consistent execution under complex conditions has positioned Essakane as a model of sustainable mining performance in the region.

During Q3 2025, Essakane produced 108,000 ounces of gold, of which 92,000 ounces were attributable to IAMGOLD, bringing its year-to-date total to 255,000 ounces. Mining operations processed 8.7 million tonnes of material, including 3.2 million tonnes of ore at an average grade of 1.16 grams per tonne (g/t). The mine also achieved a notable 92 percent gold recovery rate, reflecting a 4 percent improvement from the previous year. Revenue for the quarter reached $370.3 million, while mine-site free cash flow doubled to $150.5 million, underscoring improved cost control and operational efficiency.

The all-in sustaining cost (AISC) averaged $1,914 per ounce, slightly higher due to increased royalty rates and persistent inflationary pressures. Burkina Faso’s new fiscal decree introduced an 8 percent royalty rate for gold prices exceeding $3,000 per ounce, which coincided with IAMGOLD’s higher realized gold price of $3,493 per ounce. This favorable pricing environment contributed to a record $855 million dividend declared from retained earnings, of which $680 million was attributable to IAMGOLD. Furthermore, $154 million was repatriated to reinforce the company’s liquidity and financial flexibility, ensuring a robust balance sheet amid regional uncertainty.

Looking ahead, IAMGOLD’s 2025 production guidance remains strong at 400,000 to 440,000 ounces, with higher-grade zones expected to be accessed in the final quarter of the year. The company continues to invest strategically, allocating $115 million toward stripping, equipment upgrades, and process optimization to sustain long-term productivity. In light of Burkina Faso’s regional instability, IAMGOLD maintains rigorous security and risk management protocols to safeguard personnel and assets, reinforcing confidence in its continued operations.

Essakane remains IAMGOLD’s financial engine in Africa, driving growth through consistent output, efficient cash generation, and shareholder value creation. The mine’s performance underscores the company’s adaptability and strategic foresight, providing a solid foundation for continued contribution to both IAMGOLD’s global success and the development of Burkina Faso’s mining sector.

Mini-Glossary

• AISC (All-In Sustaining Cost): A measure of the total cost to produce an ounce of gold, including operating expenses, royalties, and sustaining capital.
• g/t (grams per tonne): A unit measuring the concentration of gold within ore; higher grades indicate richer deposits.
• Free Cash Flow: Cash generated from operations after accounting for capital expenditures, used to gauge profitability.
• Royalty Rate: A percentage of revenue or production value paid to the host government for resource extraction rights.
• Stripping: The process of removing waste material to access ore bodies for future mining.