 | Kinross Gold Corporation - K.t is a global gold producer from ten mines located in South America, North America, West Africa and Russia.
Production was 2,594,652 Au eq. oz. in 2015 at AISC of $975. The company expects 2016 production of between 2.7 - 2.9 million Au at AISC of $890 - $990. |  |
On March 30, 2016 the company released
News"
Kinross Gold Corporation (TSX: K)(NYSE: KGC) is pleased to announce that it is proceeding with the Phase One expansion of its Tasiast mine in
Mauritania. Phase One is expected to increase mill throughput capacity from the current 8,000 tonnes per day (t/d) to 12,000 t/d, while significantly reducing Tasiast's operating costs and increasing production. Preparations for Phase One construction to install incremental crushing and grinding capacity to the existing carbon-in-leach (CIL) circuit, which includes an oversized semi-autogenous grinding (SAG) mill and gyratory crusher, will begin immediately. Phase One is expected to reach full production by the end of Q1 2018 with estimated capital expenditures of approximately
$300 million.
| Phase One Feasibility Study Highlights* |
| Estimates | Phase One |
| Throughput capacity (t/d) | 12,000 |
| Average annual production (Au oz.) | 409,000 (2018-2027) |
| All-in sustaining cost(1) (per ounce) | $760 (2018-2027) |
| Production cost of sales (per ounce) | $535 (2018-2027) |
| Initial capital costs(2) (millions) | $300 |
| Internal rate of return (IRR)(3) | 20% |
| Net present value (NPV)(4) (millions) | $635 |
The Company is also pleased to release details of a prefeasibility study on a combined potential Phase One and Phase Two expansion based on installing additional mill throughput of 18,000 t/d for a total combined capacity of 30,000 t/d. This potential expansion contemplates replacing the two current ball mills with a new larger ball mill, adding incremental power generation to the existing 20 MW heavy fuel oil power plant and additional leaching and thickening capacity, upgrading the water supply infrastructure, and expanding the mine fleet.
| Combined Phase One and Phase Two Prefeasibility Study Highlights** |
| Estimates | Phase One and Two combined |
| Throughput capacity (t/d) | 30,000 |
| Average annual production (Au oz.) | 777,000 (2020-2026) |
| All-in sustaining cost1 (per ounce) | $665 (2020-2026) |
| Production cost of sales (per ounce) | $460 (2020-2026) |
| Capital costs(5) (millions) | $920 |
| Internal rate of return (IRR)3 | 17% |
| Net present value (NPV) 4 (millions) | $885 |
Detailed study results for a combined Phase One and Phase Two 30,000 t/d expansion can be found in an updated NI 43-101 Technical Report for Tasiast available on the Company website at
www.kinross.com_____________________________________________http://canadastockjournal.blogspot.com/2014/11/kinross-gold-corporation-kt.html
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