Construction work on the Tasiast 24k expansion project has also resumed and the Company is evaluating opportunities to optimize the project while milling operations are suspended.
Kinross is drawing on resources from across the Company to expedite actions to reduce the SAG mill’s downtime and to review all potential strategies to mitigate the expected production deferral.
Based on the initial estimate of the mill’s downtime and with ongoing work on the 24k project, Tasiast’s throughput capacity is now expected to reach 21,000 tonnes per day during Q1 2022, compared with the previous estimate of year-end 2021.
While we are continuing to assess the impact and are investigating the cause of the incident, we are pleased to report that mining and project work have now resumed at site.
“Although this unfortunate incident is expected to impact our annual production guidance, our financial position and longer-term outlook remain very strong.
In connection with this news release, Kinross will hold a conference call and audio webcast on Tuesday, June 22, 2021 at 8:00 a.m.
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana.
All statements, other than statements of historical fact, contained or incorporated by reference in this news release including, but not limited to, any information as to the future financial or operating performance of Kinross, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, including the provisions of the Securities Act the viability of options to enhance shareholders returns and the Company’s ability to obtain the necessary consents and approvals related to such options.
The technical information about the Company’s mineral properties contained in this news release has been prepared under the supervision of Mr. John Sims who is a “qualified person” within the meaning of National Instrument 43-101.