Iamgold says growth projects robust as third-quarter output slips

Canada-based Iamgold has a robust pipeline of development projects and is looking to bolster its credit facility to facility its growth strategy, president and CEO Steve Letwin said on Tuesday, after reporting lower third-quarter production and revenue.

The company, which operates mines in the Americas and Africa, is in advanced discussions with a syndicate of lenders to increase its existing credit facility from $250-million to $500-million to provide additional flexibility to execute its growth plans. The facility is expected to close before the end of the year.