La Coipa restart project, Chile – update
Name of the Project
La Coipa restart project.
Location
Chile.
Project Owner/s
Kinross Gold.
Project Description
The project plans to leverage existing infrastructure to mine the Phase 7 deposit, which has proven and probable reserves of 10.9-million tonnes grading 1.5 g/t gold and 96.3 g/silver.
The openpit project is expected to produce an estimated 690 000 gold equivalent ounces from 2022 to 2024.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project is expected to generate an internal rate of return (IRR) of 28% and a net present value (NPV) of $118-million based on a $1 200/oz gold price and $17/oz silver price. Based on a $1 500/oz gold price and $17.50/oz silver price, the project has an IRR of 42% and an NPV of $194-million.
Capital Expenditure
Initial capital costs are estimated at $225-million.
Planned Start/End Date
Production is expected to start in 2022.
Latest Developments
The La Coipa Restart project continues to advance well and is on budget and on schedule to start production in mid-2022, with prestripping progressing as planned.
Plant refurbishments are about 60% complete and mine road construction is now about 85% complete.
Kinross continues to study potential mine life extensions by incorporating adjacent deposits into La Coipa’s mine plans, and expects to provide an update in the first quarter of 2022.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Kinross Gold, tel +1 416 365 5123 or email info@kinross.com.
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