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 Toronto-based miner, which announced the results of a prefeasibility study on a 30,000 tonne-per-day option on Monday, said the feasibility study will contemplate an additional 8,000 tonnes per day in order to wrap production from the existing mill into one facility.Work on the feasibility is set to begin immediately, with completion slated for the first quarter of 2014."Although there is considerable work to be done at the feasibility study level before we decide whether to proceed with construction, the results of the prefeasibility study are encouraging," said Chief Executive J. Paul Rollinson in a statement.
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 3100.
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