Kinross Lowers 2026-27 Gold Output, Boosts Shareholder Returns
Mining News | 2026-09-24 06:48:11
Meanwhile, Paracatu and Tasiast continue to perform strongly and are expected to produce a combined 1.1 million ounces for the fifth consecutive year.
By Paul Ploumis
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.
POLL
Which Kinross Gold operations are primarily responsible for the revised production outlook?
Frequently Asked Questions
- Why did Kinross Gold reduce its 2026-27 production forecast?
The revised outlook reflects operational challenges and severe weather at two major mines. La Coipa was affected by extreme winter conditions, higher copper grades and weaker sulphide-ore recoveries, while Round Mountain experienced lower mining rates, grades and recoveries.
- How are Paracatu and Tasiast performing?
Paracatu and Tasiast continue to perform strongly and are expected to produce a combined 1.1 million ounces for the fifth consecutive year, helping offset weaker production at La Coipa and Round Mountain.
- What changes did Kinross make to its 2026 cost and shareholder return guidance?
Kinross reduced its 2026 attributable production cost of sales guidance to $1,420-$1,460 per gold equivalent ounce sold and AISC guidance to $1,850-$1,900 per ounce. It also increased its shareholder return target to 50% of free cash flow, up from 40%.