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Tasiast, Mauritania

Tasiast is the first mine in a highly prospective greenstone belt.

Quick Facts

  • Ownership: 100% Kinross
  • Location: Mauritania, West Africa
  • Mining: Open pit
  • Processing: milling, carbon-in-leach, heap leaching
  • 2014 gold equivalent production: 260,485 oz.
  • 2014 cost of sales: US$998/oz.
  • 2014 Proven and Probable Reserves: 9.2 M oz.
 
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Download Technical Report pdf

Kinross acquired its 100% interest in the Tasiast gold mine on September 17, 2010 upon completing its acquisition of Red Back Mining Inc. The Tasiast mine is an open pit operation located in north-western Mauritania and is approximately 300 kilometres north of the capital Nouakchott.

Tasiast is located within an extensive gold system that is largely underexplored. The deposit is open along strike and at depth. Gold mineralization occurs in two parallel trends: the Piment Zone, which is continuous over a 4.5 kilometre strike length, and the Greenschist Zone (West Branch), with a strike length of approximately 1.5 kilometres.

Tasiast began commercial operations in 2008. Current mining operations consist of conventional open pit mining methods. High grade ore processing is based on three stage crushing, ball milling, and a carbon-in-leach circuit. Lower grade oxide ore is processed in a run-of-mine heap leach facility. In 2011, Kinross completed the construction of the West Branch dump leach and ADR (Adsorption, Desorption and Refining) facilities, the initial phase of the project expansion at Tasiast.

On March 31, 2014 Kinross announced results of its feasibility study for the Tasiast expansion project. Following a comprehensive review, the Company has decided not to proceed with the 38,000 t/d mill expansion at the present time. The current gold price environment does not provide the Company with sufficient confidence that it will be able to maintain balance sheet strength while financing the expansion during the three-year construction period.

Kinross continues to believe a Tasiast mill expansion has the potential to create significant value over the long term. The Company will continue to assess market conditions with a view to possibly expanding Tasiast, should circumstances change.

 

Mineral Reserve and Resource Summary

As at December 31, 2014

 

Tonnes

Grade

Ounces

Gold

( X 1,000)

(g/t)

( X 1,000)

Proven and Probable Reserves

161,822

1.77

9,196

Measured and Indicated Resources(a)

85,573

1.14

3,148

Inferred Resources

8,915

1.71

492

a) Measured and Indicated Resources exclude Proven and Probable Reserves