Kinross Gold Suspends Milling Operations At Tasiast Mine Following Fire
Kinross Gold (TSX: K) has suspended mill operations at its Tasiast Mine in Mauritania following a mill fire that occurred on Monday. The fire is said to have been fully extinguished at this time, with no injuries reported.
Mining operations are said to be continuing at this time while mill operations are suspended. Early indications suggest that the fire was localized to the SAG discharge area, with critical spare parts available on site.
Guidance is currently being maintained, while an investigation on the cause of the fire is being carried out. A timeline for mill activity resuming was not provided.
Unfortunately for Kinross, this is not the first time this particular mill has caught fire. Back in 2021 the mill also saw a suspension of operations following a fire, with initial findings stating that that fire began at the trommel screen of the SAG mill while the facility was undergoing scheduled maintenance that included welding. That fire resulted in guidance being reduced by up to 300,000 ounces at the time, with restart costs estimated as being as high as $50 million.
The Tasiast mine in 2024 produced 622,394 ounces of gold equivalent.
Kinross last traded at $20.13 on the TSX.
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