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Kinross Gold Corporation provided an update on the economics of its Lobo-Marte gold project in Chile, adjusting the…
KGCKinross Gold Corp
Kinross Gold Corporation provided an update on the economics of its Lobo-Marte gold project in Chile, adjusting the 2021 feasibility study for inflation and execution strategy advancements. The updated plan projects approximately 350,000 ounces of average annual production over a 15-year life, with total output of 4.6 million ounces. Estimated all-in sustaining costs are ~$1,000 per ounce, supported by a heap leach grade of 1.3 g/t and a strip ratio of 2.0:1. The project carries an estimated net present value of $4.3 billion and an internal rate of return of 26% at a gold price of $4,100 per ounce. Initial capital expenditures are forecasted at approximately $1.8 billion to be self-funded from operating cash flow over three years. Permitting is on track with the Environmental Impact Assessment accepted for review in Q2 2026, targeting first production in the early 2030s.