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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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PRODUCTEUR |
CODE : AU |
ISIN : US0351282068 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
AngloGold est une société d’exploration minière d'or basée en Afrique Du Sud. AngloGold est productrice d'or, d'argent, de cuivre et de zinc au Bresil, au Canada, au Ghana, au Mali, en Australie, en Afrique Du Sud, en Argentine, en Guinee, en Namibie et en Tanzanie, en développement de projets de fer et d'or au Bresil, en Australie, en Afrique Du Sud, en Colombie et en Republique Democratique Du Congo, et détient divers projets d'exploration aux Philippines. Ses principaux projets en production sont CRIXÁS, MINERAÇÃO, SAO BENTO, ANGLOGOLD ASHANTI MINERAÇAO et CRIXAS MINE au Bresil, SUNRISE DAM GOLD MINE en Australie, NAVACHAB MINE et NAVACHAB en Namibie, YATELA, MORILA et SADIOLA au Mali, CERRO VANGUARDIA en Argentine, MPONENG (WESTERN DEEP NO. 1 SHAFT), TAUTONA (WESTERN DEEP NO.3 SHAFT), BAMBANANI, TAU LEKOA, MPONENG, SAVUKA, TAU TONA, GREAT NOLIGWA, KOPANANG et CRIPPLE CREEK & VICTOR (CRESSON MINE) en Afrique Du Sud, SIGUIRI en Guinee, TEBEREBIE, IDUAPRIEM, OBUASI et KUBI au Ghana, GEITA en Tanzanie et TROUT LAKE MINE et CALLINAN MINE au Canada, ses principaux projets en développement sont MOAB KHOTSONG en Afrique Du Sud, MINAS-RIO au Bresil, LA COLOSA et GRAMALOTE en Colombie, KIBALI (KILO-MOTO) en Republique Democratique Du Congo et TROPICANA en Australie et ses principaux projets en exploration sont HUALATAN et ER au Perou, MKURUMU en Tanzanie, 777 PROJECT et RIVARD au Canada, LOUBOUGOULA, GOODPASTER et ALAMOUTALA (SADIOLA II) au Mali, BAMBADJI au Senegal, MORRO VELHO au Bresil et SIANA aux Philippines. AngloGold est cotée aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,3 milliards (1,2 milliards €). La valeur de son action a atteint son plus bas niveau récent le 23 novembre 2018 à 10,00 , et son plus haut niveau récent le 20 septembre 2024 à 27,91 . AngloGold possède 47 442 200 actions en circulation. |