Canadian company Iamgold announced in a press release that the Senegalese government has approved a mining license for its Boto gold project. The permit is valid for an initial period of 20 years and will allow the company to make a development decision and consider a possible start-up. Boto is one of the most advanced development projects in Iamgold’s portfolio. The company estimates it has the capacity to produce an average of 130,000 ounces of gold annually over an 11-year lifespan. Initial capital expenditures of $ 271 million are forecast for an after-tax net present value of $ 219 million (at a gold price of $ 1,350 / oz).
