Slide 1: Results of the Tasiast Feasibility Study
April 1 KINROSS GOLD CORPORATION 2014 Results of the Tasiast feasibility study 11 www.kinross.com
Slide 2: Cautionary Statement on Forward-Looking Information
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION All statements, other than statements of historical fact, contained or incorporated by reference in or made in giving this presentation, and responses to questions, including any information as to the future performance of Kinross or the Tasiast mi
Slide 3: J. Paul Rollinson, Chief Executive Officer
J. PAUL ROLLINSON CHIEF EXECUTIVE OFFICER 33 www.kinross.com
Slide 4: Disciplined Project Development: Potential Mill Expansion at Tasiast
DISCIPLINED PROJECT DEVELOPMENT POTENTIAL MILL EXPANSION AT TASIAST Pre-Feasibility Feasibility Moving Forward Study Study • Evaluated and narrowed • Detailed study of 38k tpd mill • Do not expect to make a final options scenario decision whether to proceed until 2015 at the earliest • Identified op
Slide 5: Feasibility Study on Mill Expansion Complete
FEASIBILITY STUDY ON MILL EXPANSION COMPLETE • Feasibility study based on 38,000 tpd mill produced promising results • A mill expansion has the potential to: Add a major source of new production to Kinross’ portfolio Lower the company’s overall cost structure Generate significant cash flow 55
Slide 6: Key Highlights: Mill Expansion Feasibility Study Estimates
KEY HIGHLIGHTS MILL EXPANSION FEASIBILITY STUDY ESTIMATES Improved economics are primarily the result of estimated lower capital expenditures, an optimized mine plan and lower expected operating costs AVERAGE FOR THE FIRST 5 YEARS LIFE OF MINE (2018-2022) (2014-2029) Average annual production 848,00
Slide 7: Reduced Execution Risk
NEW TRUCK MAINTENANCE FACILITY REDUCED EXECUTION RISK • Operating site with highly trained local team in place • Basic infrastructure has already been completed • Extremely well-defined estimated mineral resource • Major permits and concession rights in place CURRENT PIT OPERATIONS WASTE & WATER TRE
Slide 8: Reduced Capital Expenditure Estimate
TASIAST FEASIBILITY STUDY RESULTS REDUCED CAPITAL EXPENDITURE ESTIMATE Initial capital expenditure estimate of $1.6 billion significantly lower than original $2.7 billion estimated in the pre-feasibility study 2013 infrastructure spending Deferral of $2.7B $330M seawater pipeline Spending Included t
Slide 9: Lower Operating Cost Estimates
TASIAST FEASIBILITY STUDY RESULTS LOWER OPERATING COST ESTIMATES Based on the mill feasibility study results, an expanded Tasiast is expected to be among Kinross’ lowest cost operations • Benefit of higher grade ore from the Greenschist zone • Identified a number of mining and processing cost saving
Slide 10: Mineral Reserve & Resource Estimates
TASIAST FEASIBILITY STUDY RESULTS MINERAL RESERVE & RESOURCE ESTIMATES(5) Optimized 38k tpd mine plan reclassifies 3.1 million ounces of Measured & Indicated gold resources to Proven & Probable gold reserves 9.6 Based on 8k tpd mine plan Based on 38k tpd mine plan 7.8 OUNCES (MILLIONS) 6.5 4.7 0.7 0
Slide 11: Moving Forward
TASIAST FEASIBILITY STUDY RESULTS MOVING FORWARD Kinross does not expect to make a final decision whether to proceed with a potential mill expansion until 2015 at the earliest CRITICAL FACTORS FOR DECISION INCLUDE: • Continuation of a conducive investment climate in Mauritania Assurance of appropr
Slide 12: Appendix
APPENDIX TASIAST FEASIBILITY STUDY RESULTS 1212 www.kinross.com
Slide 13: Mill Feasibility Study Estimates
APPENDIX MILL FEASIBILITY STUDY ESTIMATES AVERAGE FOR FIRST 5 YRS LIFE OF MINE (2018-2022) (2014-2029) Average annual production 848,000 oz. 563,000 oz. Cash costs(1) $501/oz. $616/oz. All-in cost(2) $792/oz. $878/oz. Average grade (weighted), CIL 2.09 g/t 1.76 g/t Processing cost, CIL $14.62 per to
Slide 14: Breakdown of Cost Estimates
APPENDIX BREAKDOWN OF COST ESTIMATES AVERAGE FOR THE FIRST FIVE YEARS (2018-2022) PER OUNCE Mining $92 Processing (milled + leached) $236 Site administration $95 Royalties (5%) $68 Refining, transport, and other $10 TOTAL CASH COST $501 TOTAL ALL-IN COST(2) $792 LIFE OF MINE (2014-2029) PER OUNCE Mi
Slide 15: Endnotes
ENDNOTES 1) Cash costs include estimated operating costs and royalties. 2) All-in cost include operating costs, royalties, sustaining capital, and capitalized stripping, and does not include an estimated initial capital expenditure of $1.6 billion, any exploration, income taxes, non-cash items relat
Slide 16: Kinross Gold Corporation
KINROSS GOLD CORPORATION 25 York Street, 17th Floor │Toronto, ON │ M5J 2V5 www.kinross.com 1616 www.kinross.com