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Kinross proceeds with construction of Phase X, Curlew and Redbird 2
Contributes 3 million ounces of production, enhancing grades and extending mine lives All project...
About this update from Kinross Gold Corporation
[{"type":"text","content":"Kinross proceeds with construction of Phase X, Curlew and Redbird 2\nContributes 3 million ounces of production, enhancing grades and extending mine livesAll projects have an attractive NPV and IRR at a range of gold prices (This news release contains forward-looking information about expected future events and performance of the Company. We refer to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page 16 of this release. All dollar amounts are expressed in U.S. dollars, unless otherwise noted.) TORONTO, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K; NYSE: KGC) (“Kinross” or the “Company”) today announced that it is proceeding with the construction of three organic growth projects: the Round Mountain Phase X and Bald Mountain Redbird 2 projects in Nevada, and the Kettle River-Curlew (“Curlew”) project in Washington. These projects are expected to meaningfully extend mine life and will benefit long-term costs within Kinross’ United States (U.S.) portfolio. Overall highlights1: Continued positive exploration results and robust internal studies have demonstrated strong margins with average all-in sustaining costs2 (AISC) of ~$1,650 per gold equivalent ounce (“Au eq. oz.”) at an attractive Internal Rate of Return3 (IRR) and Net Present Value4 (NPV) that supports proceeding to construction.These projects are expected to contribute significantly to Kinross’ U.S. production profile and to maintaining 2 million Au eq. oz. per year, with expected production of 400,000 Au eq. oz. per year between 2029 and 2031 and a total of 3 million Au eq. oz. between 2028 and 2038, based on the initial mine plan inventories.Strong value proposition with a combined IRR of 55% and a combined incremental post-tax NPV4 of $4.1 billion at a gold price of $4,300.All three assets have significant potential for mine life extensions beyond the initial mine plan inventories included in the completed project studies, potentially further enhancing returns and asset values.Phase X and Curlew continue Kinross’ grade enhancement strategy, adding higher grade underground ounces and benefitting long-term costs at lower capital intensity as well as providing optionality for further mine life extension beyond the initia...