In September 2019, Kinross’ announced that it was proceeding with the Tasiast 24k project, a capital efficient continuous improvement project expected to incrementally increase throughput capacity to 21,000 tonnes per day (t/d) by the end of Q1 2022 and then 24,000 t/d by mid-2023. The project is proceeding as planned and on schedule. Tasiast 24k is expected to increase production, reduce costs, extend mine life to 2033, and generate significant cash flow and attractive returns.

For more information, see our news release here.

Click here for a video of the Tasiast 24k project.

Tasiast solar project

In February 2022, Kinross announced that it is proceeding with the development of a photovoltaic solar power plant at Tasiast with power generation capacity of 34 MW and a battery system of 18 MW. The project is part of Kinross’ efforts to reduce its greenhouse gas emissions. The plant is expected to be integrated with Tasiast’s power generation suite, and provide approximately 20% of the site’s power.

The Tasiast solar project is expected to generate positive returns and reduce GHG emissions by approximately 530 Kt over the life of mine, which could save approximately 180 million litres of fuel over the same period. The project is expected to contribute to the Government of Mauritania’s GHG reduction targets in the country.

Exploration

In January 2022, the Company reached an agreement with the Government of Mauritania regarding two licenses located west, east and north of the main Tasiast operation. Kinross has agreed to renew exploration activities at these licenses and has committed to spend $10 million in exploration over the next three years. As part of its commitment, the Company is budgeting $5 million for exploration in 2022 at these licenses.