The optimisation programme for the Round Mountain mine, in Nevada, has been completed and Kinross has opted to go underground, rather than pursuing openpit expansions.
Phase S and W3 remain economic at the current gold prices and could be exploited in the future when the gold price or cost drive improves, he added.“The two underground opportunities show potential for higher-margin, higher-return operations at Round Mountain compared to openpit, along with increased flexibility and optionality.”
The combined underground operation could produce about 150 000 oz/y at an all-in sustaining cost of $1 000/oz to $1 100/oz.
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