Kinross Gold Corp. is moving to expand its Tasiast mine in West Africa in a bid to reduce its costs of production and boost output in the region.
On Sunday, Toronto-based Kinross announced it will invest US$150-million into the mine in Mauritania, predicting that production will rise to an average of 445,000 ounces of gold a year starting in 2020. Last year, the mine produced about 250,000 ounces.
The announcement comes after a previous, more expensive expansion plan for Tasiast was put on hold in 2018. Acquired by Kinross in 2010, the mine’s expansion plan has been in limbo for more than a year amid protracted negotiations with the Mauritanian government over taxes and procurement agreements. Continue Reading →