SEATTLE (Scrap Monster): Toronto-based Kinross Gold Corporation announced that its La Coipa project in Chile has achieved a major milestone by pouring its first gold bar. The commissioning commenced in early February this year, on schedule and under budget. The plant is expected to ramp up over the next few months, with full capacity expected by mid-year.
Commenting on the development, J. Paul Rollinson, President and CEO, Kinross Gold thanked the hard work and contributions of its team in Chile, without which the company would not have been able to reach the key milestone. The team ensured successful delivery of the project amidst extremely challenging operating environment due to global pandemic over the past two years. The company is on the cusp of further exciting milestones at the project, he added.
The company had increased La Coipa’s expected life of mine production by 45% to approximately 1 million Au eq. oz. by end-2021. Also, the project’s life of mine estimate was also extended from 2024 to 2026. The pre-stripping works at nearby Puren pit is expected to begin in April 2022. It must be noted that Kinross Gold had power purchase agreement towards end-2021 to supply La Coipa with 100% renewable power to meet its power needs.