Kinross Gold Corp is pushing ahead with plans to expand its Tasiast project in Mauritania with a feasibility study for a 38,000-tonne-per-day mill and said it expected the initial capital cost for the project to be about $2.7 billion. The pre-feasibility study on Tasiast expansion found that during the first five years of production a 30,000-tonne-per-day (tpd) mill would be expected to produce an average of about 830,000 ounces of gold per year.Average cash costs will be about $500 per ounce, the company said.The Canadian gold miner acquired the West African project as part of its $7.1 billion takeover of Red Back Mining in 2010.
Kinross Gold Corporation (Kinross) is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. Shares of KGC remained unchanged at $5.49. In the past year, the shares have traded as low as $4.97 and as high as $11.20. On average, 10545700 shares of KGC exchange hands on a given day and today's volume is recorded at 0.
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