PROJECTS

In March 2014, we completed a feasibility study for a Tasiast expansion based on an optimal mill size of 38,000 tonnes per day.

  • Based on a $1,350 gold price assumption, the feasibility study estimates during the first five (2018-2022) years of operation:
    • Average annual production of 848,000 gold ounces
    • All-in cost 8 of $792 per ounce
    • Free cash flow of $2.2 billion
    • Estimated initial capital expenditures of $1.6 billion
  • Optimized pit design increases mineral reserves at Tasiast nearly 50% to 9.6 million gold ounces 7
  • Kinross expects Tasiast expansion would contribute significantly to overall production and cash flow while lowering average cost per ounce
  • The Company has deferred the final decision on whether to expand Tasiast until 2015 at the earliest, as part of its focus on cash conservation in 2014

For more information regarding the Tasiast expansion feasibility study see our news release dated March 31, 2014 and the Tasiast Technical Report dated March 31, 2014