Kinross Gold Corporation
Kinross Gold Corporation
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Attributable gold equivalent production from Canadian miner Kinross Gold’s global operations spanning the Americas, Russia and West Africa have fallen to 538,091oz AuEq in the June 2021 qtr (Q2 21) from 558,777oz in Q1 21, with sales easing to 547,819oz from 548,084oz, cutting net earnings to $US119.3M from $149.5M and adjusted net earnings to $156.5M from $192.8M.
Canadian international miner Kinross Gold has lowered its FY2021 gold production guidance by 12.5% following a fire that has resulted in a lengthy shutdown of the SAG mill at its 100%-owned Tasiast mine in Mauritania.
Kinross says the fire, which occurred during scheduled maintenance on June 15, was quickly controlled but preliminary estimates indicate a restart by year-end at expected costs of up to $US50M.
Significant Canadian producer Kinross Gold will take up the exploration pace on four exploration licences and applications covering up to 83sqkm in Finland’s Central Lapland Greenstone Belt under a $US9.5M earn-in agreement with S2 Resources.
Under their binding farm-in agreement, Kinross will spend $3.5M in the first three years on its way to a 70% stake.
Higher gold prices and gold equivalent production from Kinross Gold’s global operations have lifted Sept 2020 qtr (Q3 20) net earnings to $US241.6M from Q2 20’s $195.7M.
Canada-based global gold miner Kinross Gold has flagged a 20% rise in annual gold equiv production to 2.9Moz (+/- 5%) over the next 3-years, along with an overall downward trend in production cost of sales and capital expenditures to drive strong free cash flow.
The estimate is also based on current gold reserves of 24.3Moz, which does not include the company’s recent addition of 6.4Moz from the Lobo-Marte project in Chile, which has measured/indicated resources of 35.5Moz Au.
Increased gold equivalent production from its world-wide operations and the avoidance of any major fallout from the COVID-19 pandemic, has seen Kinross Gold lift June 2020 qtr (Q2 20) net earnings to $US195.7M from Q1 20’s $122.7M.
A COVID-19 unscathed Kinross Gold has lifted its Q2 20 profit to $195.7M on the back of its 3 biggest and lowest costs mines
Canada-based miner Kinross Gold has reached agreement with Mauritania’s govt under which the company will pay $US25M to resolve disputes over fuel use, tax exemptions and mining licences, Reuters reports.
Under the deal, the govt will give Kinross a 30-year exploitation licence for its new project Tasiast Sud, with Mauritania receiving a 15% free carried interest and an option to purchase an additional 10% after further feasibility work is completed.
Global gold miner Kinross Gold has completed its $US283M acquisition of the high-quality Chulbatkan open pit, heap leach gold development project in Russia from N-Mining.
Canada-based global gold miner Kinross Gold has signed a definitive loan agreement for up to $US300M for its Tasiast operation in Mauritania with World Bank Group member IFC, primarily to cover the $150M, 2nd phase development to lift output to an average 563,000oz pa between 2022-2028 from a 6-months annualised 388,000oz this year.
The initial drawdown is expected in early 2020.