Kinross workers end strike at Mauritania mine

Infomine

Unionized workers at Kinross Gold’s (TSX:K) (NYSE:KGC) Tasiast mine in Mauritania have suspended their strike at the request of the government, the company said on Friday.

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The Canadian gold miner said the shutdown, which began on May 5, is not expected to “materially affect” 2020 production. The company also said the labour action shouldn’t impact ongoing work on the “Tasiast 24k” expansion project, which aims to increase throughput by more than 50% for an initial capital cost of $150 million.

The open-pit mine, located in northwestern
Mauritania, about 300 km north of the capital Nouakchott, produced 391,097
gold-equivalent ounces in 2019. The figure was significantly higher than the 250,965
ounces it churned out the year before.

Tasiast’s expansion will incrementally
increase throughputs to 24,000 tonnes a day by mid-2023, up from the current 12,000
tonnes per day range. It will also extend the mine life four years to
2033.

Kinross’ goal is to produce 563,000
ounces of gold a year at the mine by 2023.

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Source:: Infomine