Kinross has completed a Preliminary Economic Assessment (PEA) for the Great Bear project which supports the Company’s acquisition thesis of a top tier high-margin operation in a stable jurisdiction with strong infrastructure. Based on mineral resources drilled to date, the PEA outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales3 of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC)1 of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.
Kinross has also released an updated mineral resource estimate increasing the inferred resource estimate by 568koz. to 3.884 Moz. which is in addition to the existing M&I resource estimate of 2.738 Moz4. The mineral resource estimate and PEA for the Great Bear project are available here.
