In February 2022, Kinross acquired Great Bear Resources Ltd. and its flagship Dixie project located in
the renowned and prolific Red Lake mining district in Ontario, Canada. In February 2023, Kinross announced its initial mineral resource estimate for the project, and
in September 2024, Kinross completed a Preliminary Economic Assessment for the project.
The world-class project is a centerpiece of the Company’s development portfolio and has excellent potential to
become a top-tier deposit that could support a large, long-life mine complex and bolster Kinross’ long-term
production outlook.
The Preliminary Economic Assessment outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC) of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.
In 2024, Kinross commenced construction on the Advanced Exploration Program (AEX). The AEX camp is now operational, with a natural gas pipeline completed and commissioned. Earthwork activities are well advanced, with equipment installation in progress as of the third quarter of 2025.
For the Main Project, Kinross continues to progress detailed engineering for the mill, tailings management facility, and other site infrastructure. Initial procurement activities are in progress, with contract awards planned to start before year-end 2025. Manufacturing of selected long-lead items is anticipated to commence in 2026.
Kinross continues to advance its regional exploration program, with three diamond drill rigs testing geophysical and lithological targets during the third quarter of 2025, looking for new, near-surface mineralization.
In 2025, Kinross is focused on regional exploration work including the discovery of new open pit and underground targets outside of the LP, Hinge and Limb areas on Kinross’ 120 square kilometre land package. The regional exploration program is ongoing with more than 50,000 metres anticipated to be drilled by year-end.
Learn more here.