| Kinross (KGC) Resumes Full Production at Paracatu Mine | |
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Kinross Gold Corporation KGC declared that operations at its Paracatu mine in Brazil have resumed normal production levels after remaining suspended at both the Plant 1 and Plant 2 facilities from Nov 5, 2015 owing to insufficient rainfall.
Both plants resumed full production since Nov 20 after the area witnessed an increase in seasonal rainfall. However, operations at the Santo Antonio tailings reprocessing project, slated to start production in the fourth quarter of 2015, remain temporarily suspended until the water balance is fully restored.
In its third-quarter 2015 results, Kinross reported that production increased sequentially at the Paracatu mine owing to higher mill grades and increased recovery. However, year-over-year production declined due to lower mill throughput, grades and recoveries. Due to lack of rainfall, management decided to temporarily halt operations at the mine until the water balance is sufficient to allow production to resume.
However, the suspension of operations at Plant 1 and Plant 2 is anticipated to reduce production by a minimum of 16,000 gold ounces and a maximum of 34,000 gold ounces in the fourth quarter of 2015, depending on the amount of rainfall in December. Moreover, this expected reduction contemplates another curtailment at the mine if the site receives less than one-third of the average rainfall this month. Nonetheless, this is least likely as December is typically the wettest month of the year.
Kinross, however, notified that this curtailment would not affect its production guidance for the full year. The company anticipates its production for the year to lie in the range of 2.5–2.6 million gold equivalent ounces.
Kinross currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the gold mining space include Harmony Gold Mining Company Limited HMY, NovaGold Resources Inc. NG and Richmont Mines Inc. RIC, all carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KINROSS GOLD (KGC): Free Stock Analysis Report NOVAGOLD RSRCS (NG): Free Stock Analysis Report HARMONY GOLD (HMY): Free Stock Analysis Report RICHMONT MINES (RIC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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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 11,4 milliards CA$ (8,3 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. |