Kinross Lowers 2026-27 Gold Output, Boosts Shareholder Returns

Mining News  |  2026-09-24 05:52:52   |   By

Meanwhile, Paracatu and Tasiast continue to perform strongly and are expected to produce a combined 1.1 million ounces for the fifth consecutive year.

Summary
  • Kinross Cuts 2026-27 Gold Production Guidance
    Kinross Gold now expects attributable production of approximately 1.84-1.86 million gold equivalent ounces in both 2026 and 2027. The revised outlook represents a 2%-3% reduction from the lower end of its previous guidance.
  • La Coipa and Round Mountain Weigh on Output
    Severe winter weather disrupted mining and milling at La Coipa in Chile, while higher copper grades and weaker sulphide-ore recoveries further affected production. At Round Mountain in the U.S., lower mining rates, grades and recoveries at Phase S also reduced output expectations.
  • Cost Guidance Cut as Shareholder Returns Rise
    Kinross lowered its 2026 production cost of sales guidance to $1,420-$1,460 per gold equivalent ounce and AISC guidance to $1,850-$1,900 per ounce. The company also raised its target for shareholder returns to 50% of free cash flow from 40%.

SEATTLE (Scrap Monster): Kinross Gold has lowered its production forecasts for 2026 and 2027 after operational difficulties and severe weather affected two of its major mining operations.

The company now expects attributable production of approximately 1.84 million to 1.86 million gold equivalent ounces in each year, representing a 2% to 3% reduction from the lower end of its previous guidance. Third-quarter 2026 production is estimated at about 425,000 gold equivalent ounces.

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The revised outlook is primarily linked to La Coipa in Chile and Round Mountain in the United States. At La Coipa, extreme winter weather disrupted mining and milling during the third quarter, while higher copper grades and weaker recoveries from sulphide ore further reduced expected output. At Round Mountain, lower mining rates, grades, and recoveries at Phase S have affected production expectations.

Meanwhile, Paracatu and Tasiast continue to perform strongly and are expected to produce a combined 1.1 million ounces for the fifth consecutive year.

Kinross has also lowered its 2026 cost guidance. Attributable production cost of sales is now expected at $1,420-$1,460 per gold equivalent ounce sold, while all-in sustaining costs are forecast at $1,850-$1,900 per ounce.

Kinross also increased its 2026 shareholder return target to 50% of free cash flow from 40%. It must be noted that the company has returned about $800 million to shareholders so far this year.