Name of the Project
Lobo-Marte gold project.

Location
Chile.

Project Owner/s
Kinross Gold corporation.

Project Description
The Lobo-Marte project has the potential to be a long-life cornerstone asset with a large production profile and low costs. The project has a significant probable mineral reserve estimate of 160.7-million tonnes grading 1.7 g/t gold, with a low estimated strip ratio.

A feasibility study released in November 2021 envisages an openpit and heap-leach, as well as sulphidisation, acidification, recycling and thickening, or SART, plant operation that will mine the Marte and Lobo deposits in succession as previously contemplated in the prefeasibility study. 

Lobo-Marte’s mine life is expected to be 16 years, comprising 14 years of mining and two years of residual processing.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated net present value, based on a reserve price of $1 200/oz, of $180-million and an internal rate of return of 7%.

Capital Expenditure
$1.08-billion, including $130-million in contingency.

Planned Start/End Date
First production is expected in 2027, subject to a positive development decision.

However, project timing will depend on permitting and the conclusion of mining at the La Coipa project, about 50 km north-west of Lobo-Marte, as the feasibility proposes using water sources that are planned to be used by La Coipa. Kinross is continuing to explore opportunities to extend mine life at La Coipa by incorporating adjacent pits into its mine plan, which could affect Lobo-Marte timing.

Latest Developments
The environmental-impact assessment was submitted in April 2026 and is under review by the regulators, formally initiating the permitting process.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Kinross Gold Corporation VP corporate communications Louie Diaz, tel +1 416 369 6469 or email louie.diaz@kinross.com.