IAMGold reacts to Quebec earthquake

IAMGold announced Monday that it has ceased operations at its Westwood underground mine in southern Quebec following reports of seismic activity. The company said the incident occurred around 2:30 p.m. on Friday and all underground workers were safely evacuated. "The appropriate government agencies have been contacted and the cause of the seismic event is currently being investigated. Operations at the Westwood Mine and Westwood Plant are currently suspended while a plan to restore business is under review," the company said in a press release. This is the second time in so many years that Westwood operations have been adversely affected by seismic activity. The mine operated at reduced capacity after an earthquake was reported in late 2019. The Quebec mine was problematic for the medium-sized producer. Last year, the company reported an impairment loss of $ 395 million related to the Quebec mine. Before closing on Friday, IAMGold forecast the mine would produce between 85,000 and 100,000 ounces of gold this year.