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Paracatu, Brazil

Our Paracatu operation recently underwent a major expansion, increasing its lifespan and production capacity. At full capacity, Paracatu will be the biggest gold producer in Brazil.

Quick Facts

  • Ownership: Kinross
  • Location: Paracatu, Brazil
  • Mining: Open pit
  • Processing: Milling, flotation, carbon-in-leach, gravity
  • 2013 gold equivalent production: 500,380 oz.
  • 2013 cost of sales: US$836/oz.
  • 2013 Proven and probable reserves: 10.4M oz.

 

Awards

  • 2009: Named among the Companies of the Year in Brazil (Mineral Sector, Large Sized Mining Company Category)
  • 2007: Named One of the Best Companies to Work for in Brazil by Epoca Magazine
  • 2007: Top Prize in Management of Safety and Health at Work
  • 2006: Top Environmental Quality Award from Ordem do Brasil
 
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Download Technical Report pdf

The Paracatu mine in Brazil is a large scale open pit operation located near the city of Paracatu, and approximately 230 kilometres from Brasília, the capital of Brazil. Kinross first acquired an ownership interest in the Paracatu mine upon completion of the merger with TVX on January 31, 2003. On December 31, 2004, Kinross purchased the remaining 51% from Rio Tinto.

Access to the mine is provided by paved federal highways and charter aircraft. The mine is the largest employer in Paracatu, which is predominantly an agricultural town. Gold mining in the Paracatu area dates back to 1722 with the discovery of placer gold in the creeks and rivers of the Paracatu region.

Both the mill and mine operate 24 hours a day, 7 days per week. The nominal plant throughput is 4.8 million tonnes per month or 58 million tonnes per year, considering the present ore hardness.

In 2006, Kinross began an expansion of the mill facilities, which is expected o triple throughput to 61 million tonnes per annum. Production of gold from the expansion plant began in September 2008. The expansion is expected to extend the life of the mining operation to 2042.

 

Mineral Reserve and Resource Summary

As at December 31, 2013

 

Tonnes

Grade

Ounces

Gold

( X 1,000)

(g/t)

( X 1,000)

Proven and Probable Reserves

763,708

0.42

10,401

Measured and Indicated Resources (a)

540,175

0.36

6,180

Inferred Resources 3,239 0.27 28

a) Measured and Indicated Resources exclude Proven and Probable Reserves