Name and Location
Tasiast gold expansion project, Mauritania.

Client
Kinross Gold Corporation.

Project Description
The project proposes to expand the existing 8 000 t/d mine, located about 300 km north of Nouakchott, in north-western Mauritania.

A prefeasibility study (PFS) completed on the project envisages the construction of a new 30 000 t/d mill using heavy fuel oil as an energy source.

The PFS estimates are based on a pit design mineral resource estimate of about ten-million recovered gold ounces. This does not include additional estimated known resources.

The study found that during the first five years of production, a 30 000 t/d mill would be expected to have an average gold production of about 830 000 oz/y, with average cash costs of about $500/oz and average all-in sustaining costs of about $735/oz.

Value
The expected initial capital cost of the project is $2.7-billion.

Duration
Not stated.

Latest Developments
The Tasiast project feasibility study remains on schedule for expected completion in the first quarter of 2014.

The feasibility study will assess the construction of a standard carbon-in-leach circuit, with a primary crusher and semiautogenous mill, in addition to the existing dump-leach facilities.
Construction of basic site infrastructure, including the 20 MW power plant, the reverse osmosis plant, the sewage treatment plant and maintenance facilities, has been completed.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Kinross Gold Corporation VP corporate communications Steve Mitchell, tel +1 416 365 2726 or email steve.mitchell@kinross.com.