Wood said that it has been given the go-ahead from IAMGOLD for executing engineering, procurement and construction management (EPCM) services for the $1.3bn Côté Gold open pit gold mine in Canada.

The ground breaking event for the gold mine located in northern Ontario took place in September 2020. Construction on the open pit mine is expected be wrapped up in mid-2023.

Once fully operational, the Côté Gold open pit gold mine is anticipated to yield an average of 367,000 ounces of gold annually through its 18-year mine life.

IAMGOLD president and CEO Gordon Stothart said: “We are pleased to move to construction on the Côté Gold Project with our long-time engineering partner Wood. We look forward to bringing this project from concept to reality with their team.”

Wood will be responsible for handling EPCM for the 36,000 tonnes per day conventional gold processing plant, tailings, and water management.

The engineering and consulting company has already been associated with the Côté Gold project since the last eight years. Wood is said to have been engaged in all the aspects of the mine with design and project delivery solutions.

Wood mining and 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 $450 million of improvements in net present value.”

Estimated to have gold reserves of over seven million ounces, the Côté Gold open pit gold mine is expected to create more than 1,000 jobs during its construction. The project will generate 450 jobs for its operations.

IAMGOLD is the operator of the Côté Gold open pit gold mine with a stake of 70%. The Canadian gold mining company is partnered in the project by Sumitomo Metal Mining, which holds the remaining 30% stake.