The Conversation (0)
Kinross Gold Corporation (TSX:K, NYSE:KGC) announced results from the pre-feasibility study for its Tasiast expansion project and that results have supported the decision to proceed with the expansion.
Kinross Gold Corporation (TSX:K, NYSE:KGC) announced results from the pre-feasibility study for its Tasiast expansion project and that results have supported the decision to proceed with the expansion.
As quoted in the press release:
The study found that during the first five years of production, a 30,000 tpd mill would be expected to have average gold production of approximately 830,000 ounces per year, with average cash costs(1) of approximately $500 per ounce, and average all-in sustaining costs(2) of approximately $735 per ounce. The expected initial capital cost would be approximately $2.7 billion(3). The PFS indicated an estimated IRR for the project of approximately 11% and an estimated NPV of approximately $1.1 billion.
Kinross’ CEO, J. Paul Rollinson, said:
Although there is considerable work to be done at the feasibility study level before we decide whether to proceed with construction, the results of the PFS are encouraging. As we continue to evaluate the project, we remain firmly focused on preserving the strength of our balance sheet.
To view the whole press release, click here.
