Mots clés associés :
Ghana |
| Behind Kinross’s Weak Production Performance in West Africa | |
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Kinross is Looking Forward to New Mine Projects after 3Q15 (Continued from Prior Part) Decline in Tasiast production
Kinross Gold’s (KGC) West Africa operations consist of Tasiast in Mauritania and Chirano in Ghana. The gold production at Tasiast decreased in 3Q15 as compared to 2Q15, mainly due to the wind-down of dump leach production.
The year-over-year (or YoY) production also took a 12% hit as mill grades declined due to planned mine sequencing. Lower production and lower gold prices led to lower sales to the extent of 20% YoY in 3Q15. The production cost of sales were slightly lower than 3Q14 due to lower fuel costs and reduced consumption of reagents.
Weak performance at Chirano
Kinross acquired a 90% stake in Chirano in 2010 after the acquisition of Red Back Mining, Inc. The government of Ghana holds the remaining 10% of the stake. Chirano also reported lower gold production YoY as a result of expected lower grades due to declining contribution from the Akwaaba underground deposit. On the other hand, production cost of sales were higher by 11% YoY due to an increase in power costs.
Extending Chirano’s mine-life
Kinross is continuing work to extend Chirano’s estimates mine-life by one year to 2020. The development of decline at the Akoti deposit advanced into the third quarter of 2015. Plus, 250 meters of the decline was developed until September 30, 2015. The company expects to mine additional underground ounces at two known mineral deposits, Paboase and Akoti, with Akoti expected to start producing ore in the second half of 2016.
Kinross’s peers, including Yamana Gold (AUY), Agnico-Eagle Mines (AEM), and AngloGold Ashanti (AU) are also taking steps to increase production in order to lower costs.
If you don’t want to invest directly in individual miners, the Market Vectors Gold Miners ETF (GDX) provides an alternative route to exposure in the sector. GDX invests in senior and intermediate miners, including AngloGold Ashanti (AU) and Kinross (KGC), which make up 3.7% and 2.8%, respectively, of GDX’s total holdings.
To get exposure to gold prices, investors can also invest in gold-backed ETFs such as the SPDR Gold Shares ETF (GLD) and the iShares Gold Trust ETF (IAU).
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Kinross Gold Corporation
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PRODUCTEUR |
CODE : K.TO |
ISIN : CA4969024047 |
CUSIP : 496902404 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Kinross Gold est une société de production minière d'or basée au Canada. Kinross Gold est productrice d'or, d'argent en USA, au Bresil, au Canada, au Chili, au Ghana, en Mauritanie et in Russia, en développement de projets d'argent, de cuivre et d'or au Chili, et détient divers projets d'exploration au Canada, au Chili et in Russia. Ses principaux projets en production sont ROUND MOUNTAIN en USA, CRIXÁS, MORRO DO OURO et PARACATU au Bresil, REFUGIO MINE (VERDE AND PANCHO), FORT KNOX, MARICUNGA et LA COIPA au Chili, PORCUPINE et MUSSELWHITE au Canada, CHIRANO au Ghana, TASIAST en Mauritanie et KUPOL in Russia, ses principaux projets en développement sont KETTLE RIVER, GOLD HILL et CERRO CASALE au Chili et ses principaux projets en exploration sont AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, RUSSIAN MOUNTAIN, HORN MOUNTAIN, GIL, ENCHI et GOLDBANKS - KINROSS au Ghana, FRUTA DEL NORTE en Equateur, HAMMOND REEF au Canada, KUBAKA MINE - BIRKACHAN in Russia et LOBO-MARTE au Chili. Kinross Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 11,1 milliards CA$ (8,9 milliards US$, 7,8 milliards €). La valeur de son action a atteint son plus bas niveau récent le 27 octobre 2000 à 1,43 CA$, et son plus haut niveau récent le 13 décembre 2002 à 9,99 CA$. Kinross Gold possède 1 246 749 952 actions en circulation. |