Kinross Gold Provides Update on Tasiast Mill Fire

SEATTLE (Scrap Monster): Kinross Gold Corporation provided update with regards to Tasiast mine operations. The milling operations at the mine were suspended temporarily following a fire incident on 15^th June.

The company press release confirmed that there were no injuries due to the fire. The mining activities at the mine have resumed. The construction works on the mine expansion project too has resumed. The company is in the process of evaluating opportunities to optimize the project. The stockpiles of higher grade ore will be processed once the mill restarts. Also, the company has commenced insurance claims process to cover the damage caused to the property. The fire incident is not expected to have any impact on the life of mine production, it noted.

Kinross Gold revised its 2021 production guidance to 2.1 million gold equivalent ounces, compared with earlier guidance of 2.4 million gold equivalent ounces provided in February this year. The mine’s throughput capacity is expected to reach 21,000 tonnes per day during Q1 2022 and further increase to 24,000 tonnes per day by mid-2023.

J. Paul Robinson, President and CEO, Kinross Gold stated that the fire incident is expected to impact its annual production guidance. However, the company’s financial position and longer-term outlook remains very strong, he added.

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