Kinross cuts capital cost estimate for Tasiast expansion, shares +2.2% AH

|About: Kinross Gold Corporation (KGC)|By:, SA News Editor

Kinross Gold (KGC) +2.2% AH after releasing a feasibility study for its Tasiast expansion with a much lower estimated capital cost than previous, but says it does not plan to make a final decision on the project until 2015 at the earliest.

KGC says the initial capital cost to expand the mine in Mauritania would total $1.6B, compared with its pre-feasibility estimate of $2.7B.

The study forecasts average annual production of 848K gold oz. with an internal rate of return of ~17% during the first five years (2018-22).