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Paracatu, Brazil

Our Paracatu operation is a large scale open pit mine with a relatively long mine life. At full capacity, Paracatu is 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 is a large scale open pit operation located near the city of Paracatu in the Minas Gerais region of Brazil, approximately 230 kilometres from the capital city of Brasília. 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.

Operations at the mine include conventional shovel/truck open pit mining, two process plants with extraction of gold using gravity, flotation and carbon-in-leach (CIL) recovery processes. Paracatu's Plant II expansion commenced production in 2008 with the addition of a new 32 million tonne per annum (Mt/a) SAG mill. Further Plant II expansions were carried out to increase grinding capacity and recovery, including installation of a third ball mill and flash flotation. An increase in processing capacity was provided with the completion of a fourth ball in September 2012.

Paracatu is expected to process at an average of approximately 55 Mt/a from approximately 2014 to 2018, and at 38 Mt/a thereafter.  Paracatu has a relatively long mine life,  with mining operations expected to conclude in 2030, with the mill processing stockpiled ore until 2032.

 

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