Name of the Project
Tasiast 24k project.

Location
Mauritania.

Project Owner/s
Kinross Gold.

Project Description
Tasiast has reserves of 120.84-million tonnes grading 1.9 g/t gold. Total measured and indicated resources are estimated at 70.68-million tonnes grading 1.2 g/t gold. Inferred resources are estimated at 6.32-million tonnes grading 1.9 g/t.

Based on the Tasiast 24k project feasibility study, a continuous improvement approach to increasing throughput will be undertaken, which is expected to ramp up to 21 000 t/d by the end of 2021, and then to 24 000 t/d by mid-2023.

The project is expected to extend life-of-mine to 2033.

Throughput increases are expected to be achieved through minor upgrades and debottlenecking initiatives in the plant.

The project includes modifications to the existing grinding circuit, adding new leaching and thickening capacity, as well as incremental additions to on-site power generation and water supply.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at a 5% discount rate, of $1.7-billion and an incremental internal rate of return of 60% (based on a $1 200/oz gold price).

Capital Expenditure
Capital expenditure is estimated at $150-million.

Planned Start/End Date
The project is expected to be completed in 2023.

Latest Developments
The Tasiast 24k project remains on schedule to increase throughput capacity to 24 000 t/d by mid-2023.

Owing to the impacts of the mill fire at the project on June 15, 2021, the mine is now expected to reach 21 000 t/d in the first quarter of 2022.

The restart costs of the mill are estimated at up to $35-million. A new trommel screen has been ordered and the expected delivery supports the planned timeline.

Meanwhile, the first phase of the project is 90% complete as only three days were lost owing to the fire.

Power plant construction continues to advance well and commissioning activities have started with the plant expected to be operational late in the fourth quarter of this year. The thickener is also advancing well, with hydrotesting now completed.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Kinross Gold, tel +1416365 5123 or email info@kinross.com.