October 26, 2009 / 12:32 PM / in 8 years

UPDATE 1-Iamgold increases 2009 gold production forecast

* Sees 2009 gold production of 940,000 to 950,000 ounces

* Sees cash costs between $460 and $470 per ounce (All figures in U.S. dollars)

TORONTO, Oct 26 (Reuters) - Canadian precious metals miner Iamgold Corp IMG.TO increased its 2009 gold production forecast on Monday, primarily due to increased productivity at its Rosebel mine in Suriname and the extended life of its Doyon mine in Quebec.

Toronto-based Iamgold now projects 2009 production at 940,000 to 950,000 ounces of gold, an increase of 30,000 ounces over its previous outlook issued in June.

“We are pursuing opportunities to optimize our existing operations as well as potential acquisitions where we can capitalize on our operating strength,” said Chief Executive Joseph Conway.

The company expects cash costs related to gold mining to average between $460 and $470 per ounce for the full year 2009, unchanged from its prior forecast. ($1= $1.05 Canadian) (Reporting by Euan Rocha; Editing by Lisa Von Ahn)

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