Kinross proceeding with value-enhancing Tasiast 24k project

Expected to increase throughput by over 50% at initial capital cost of $150 million /EIN News/ — (This news release contains forward-looking information about expected future events and performance of the Company. We refer to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located of this release. All dollar amounts are expressed in U.S. dollars, unless otherwise noted.) TORONTO, Sept. 15, 2019 (GLOBE NEWSWIRE) — Kinross Gold Corporation (TSX:K; NYSE: KGC) (“Kinross”) today announced that it is proceeding with a project to incrementally increase throughput capacity at its Tasiast mine to 24,000 tonnes per day (t/d). Based on the results of the completed “Tasiast 24k” feasibility study, the project is expected to increase production, reduce costs, and generate significant cash flow and attractive returns at an initial capital cost estimate of $150 million. Tasiast 24k project feasibility study highlights (Based on a $1,200/oz. gold price and $55/bbl oil price) Throughput capacity (t/d) 24,000 Average annual production (Au oz.) (2022 – 2028) 563,000 All-in sustaining cost (per oz.)1 (2022– 2028) $560 Production cost of sales (per oz.)1 (2022 – 2028) $485 Net present value (NPV)2 ($ billions) $1.7 Initial capital expenditures ($ millions) (incremental) $150 Internal… Read full this story

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