Saturday, July 12, 2025

Latest

Kinross Gold Resumes Mining Operations At Tasiast After Fire Incident, Reduces Guidance

Kinross Gold Corporation (TSX: K) announced today that work has resumed at its Tasiast mine. The company suspended operations at the mine following a fire incident last Tuesday.

The mining firm has resumed mining activities at Tasiast mine and construction work on the Tasiast 24k expansion project. On the other hand, the SAG mill operations continue to be suspended as the fire incident occurred at the trommel screen of the mill.

“We are now focused on restarting milling operations at Tasiast and are mobilizing technical resources from across the company to expedite actions and achieve this goal,” Kinross Gold President and CEO J. Paul Rollinson said in a statement.

The fire incident started Tuesday at the SAG mill. The mine immediately shut down the mill and was able to contain the damage within the mill. After its investigation, the company reported that there were no injuries sustained from the incident. 

The company estimates costs to restart the SAG mill will be up to US$50 million. It has also started the claims process with its property damage and business interruption insurance carriers.

The fire is not expected by the company to affect Tasiast mine’s life of mine production, mineral reserve estimates, or overall value. Production guidance for 2021 however has been impacted, with the company revising 2021 production guidance to 2.1 million gold ounce equivalents, down from the 2.4 million gold ounce equivalent guidance initially released in February by the firm. Throughput expansion has also been delayed, with the company now anticipating 21,000 tonnes per day capacity to be achieved in Q1 2022, rather than by year end.

Kinross Gold Corporation last traded at $8.04 on the TSX.


Information for this briefing was found via Sedar and Kinross Gold Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Equinox Gold Guides To 600,000 Ounces Of Gold Production In 2021

Equinox Gold Corp (TSX: EQX) this morning released its production guidance for 2021 across all...

Tuesday, February 9, 2021, 08:49:48 AM

Newlox Gold Resumes Gold Pouring At First Production Facility

Newlox Gold Ventures (CSE: LUX) has resumed gold pouring at its first processing plant in...

Thursday, January 21, 2021, 08:07:49 AM

Gold Transactions Heating Up – The Daily Dive feat John-Mark Staude of Riverside Resources

Today on The Daily Dive, we are joined by our bi-weekly commentator John-Mark Staude, CEO...

Tuesday, January 5, 2021, 01:30:00 PM

Riverside Resources Begins Drilling Cuarentas Gold Project

Drilling has begun for Riverside Resources (TSXV: RRI) at the Cuarentas Gold Project located in...

Tuesday, October 27, 2020, 09:18:49 AM

Northern Vertex Produces 9,912 Gold Equivalent Ounces In Q1 2021

Northern Vertex Mining Corp. (TSXV: NEE) announced today that it has produced 9,912 ounces of...

Monday, April 19, 2021, 09:28:00 AM