Senior Canadian miner Kinross Gold has revealed that it will spend about a $1-billion on two significant capital growth plans for the Phase 2 expansion of its Tasiast mine, in Mauritania, as well as the Phase W of the Round Mountain mine, in Nevada.
“With Phase 2, Tasiast’s annual production is expected to increase to more than 800 000 gold ounces per year for the first five years and significantly reduce costs. This strong improvement in Tasiast’s performance is expected to positively impact overall company performance metrics, strengthening our production profile and increasing cash flow.
