Kinross Gold (TSX: K; NYSE:KGC) is working on a two-phased alternative expansion plan at its troublesome Tasiast gold mine in Mauritania to turn the asset into a profitable operation.
This February the producer deferred a US$1.6-billion expansion to bring Tasiast up to 38,000 t/d, citing low gold prices and the need to preserve its balance sheet.
“But rather than wait for the gold price to improve, and knowing we needed to get operating costs down as quickly as possible, we began pursuing alternative concepts,” CEO Paul Rollinson said on a Nov. 10 conference call.
… To revamp the operation, Kinross has proposed a new expansion concept, which doesn’t require buying a new mill as previously planned.
Read the complete article at NorthernMiner.com/news/kinross