Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the “Company”) is pleased to announce that its La Coipa project in Chile achieved a significant milestone and poured its first gold bar.
The project commenced commissioning at its plant in early February 2022, on schedule and under budget, with the plant expecting to ramp up over the next few months to reach full operating capacity mid-year.
“Thanks to the hard work and contributions of our team in Chile, we were able to reach this important milestone and pour our first gold bar at La Coipa,” said J. Paul Rollinson, President and CEO. “Our team has safely delivered the project on schedule and under budget despite the challenging operating environment caused by the global pandemic over the past two years. With La Coipa expected to reach full operating capacity by mid-year, we are on the cusp of further exciting milestones at the project.”
At year-end 2021, Kinross increased La Coipa’s expected life of mine production by 45% to approximately 1 million Au eq. oz. by incorporating the nearby Puren pit into the project and optimizing the Phase 7 mine plan. The project’s life of mine estimate was also extended from 2024 to 2026. Pre-stripping at Puren is expected to begin in April 2022.
The Company continues to study opportunities to further expand La Coipa’s mine plan, such as a possible additional Puren pushback and incorporating other adjacent pits into the project.
Kinross also signed a power purchase agreement late last year to supply La Coipa with 100% renewable power to meet its power needs, in line with the Company’s greenhouse gas emissions reduction strategy.
About Kinross Gold Corporation
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile, Ghana and Canada. Our focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).
Media Contact
Louie Diaz
Vice-President, Corporate Communications
phone: 416-369-6469
louie.diaz@kinross.com
Investor Relations Contact
Chris Lichtenheldt
Vice-President, Investor Relations
phone: 416-365-2761
chris.lichtenheldt@kinross.com
