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Kinross Gold Corp. (TSX:K,NYSE:KGC) announced that its Brazil-based Paracatu operation has returned to normal production levels after a production curtailment on November 5, 2015. The curtailment was due to insufficient rainfall.
Kinross Gold Corp. (TSX:K,NYSE:KGC) announced that its Brazil-based Paracatu operation has returned to normal production levels after a production curtailment on November 5, 2015. The curtailment was due to insufficient rainfall.
As quoted in the press release:
Both Plant 1 and Plant 2 resumed full production on November 20th, 2015, and the Paracatu area has seen an increase in rainfall as the rainy season, which historically runs from October to April, progresses. The Santo Antonio tailings reprocessing project, scheduled to commence in Q4 2015, remains temporarily suspended until the water balance is fully restored.
The temporary curtailment of Plant 1 and Plant 2 is expected to impact production by a minimum of 16,000 gold ounces and a maximum of 34,000 gold ounces in Q4 2015, depending on the amount of rainfall received in December. The impact range contemplates the possibility of another curtailment should the site receive less than one-third of the average rainfall for the month of December. Given December is typically the wettest month of the year, the Company forecasts this to be a low probability. As noted in the Q3 2015 results, the Company expects to be within its production guidance for the year of 2.5 – 2.6 million Au eq. oz.
Click here to read the full Kinross Gold Corp. (TSX:K,NYSE:KGC) press release.