Kinross reports temporary suspension of mill at Tasiast
Kinross reports temporary suspension of mill at Tasiast
TORONTO, April 15, 2025 -- Kinross Gold Corporation (TSX: K; NYSE: KGC) (the “Company”) announced today a temporary
suspension of mill operations at Tasiast due to a mill fire that occurred on April 14, 2025, which has been fully extinguished.
No injuries have been reported and mining operations are continuing on plan.
The Company is investigating the cause of the fire, as well as assessing the damage and potential impact on the operation.
The Company’s initial assessment indicates that the fire was localized in the SAG discharge area. Critical spare parts are
available on site and the Company is not expecting to change its guidance for Tasiast.
About Kinross Gold Corporation
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil,
Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational
excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange
(symbol: K) and the New York Stock Exchange (symbol: KGC).
Media Contact
Victoria Barrington
Senior Director, Corporate Communications
phone: 289-455-1950
Investor Relations Contact
David Shaver
Senior Vice-President, Investor Relations & Communications
phone: 416-365-2761
Source: Kinross Gold Corporation
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release including,
but not limited to, any information as to the future financial or operating performance of Kinross, constitute “forward-looking
information” or “forward-looking statements” within the meaning of certain securities laws, including the provisions of the
Securities Act (Ontario) and the provisions for “safe harbor” under the United States Private Securities Litigation Reform Act of
1995 and are based on expectations, estimates and projections as of the date of this news release. Forward-looking
statements include future events and opportunities including, without limitation, statements with respect to: the potential
impact of the mill fire on operations at Tasiast; and our estimates, expectations, forecasts and guidance for production at
Tasiast. The word “expect” or variations of or similar such words and phrases or statements that certain actions, events or
results “may”, “could”, “will” or “would” occur, and similar expressions identify forward-looking statements. Forward-looking
statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross
as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and
contingencies. The estimates and assumptions of Kinross referenced, contained or incorporated by reference in this news
release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in our
Annual Information Form dated March 27, 2025 and our full-year 2024 Management’s Discussion and Analysis as well as: the
estimated cost and projected timing of repairing and re-starting the mill being consistent with the Company’s current
expectations; the impact of the incident on the Company’s current production guidance, mineral reserve and mineral resource
estimates, and estimated overall value of Tasiast; and the estimated duration of the suspension of the SAG mill being
consistent with Kinross’ current expectations. Known and unknown factors could cause actual results to differ materially from
those projected in the forward-looking statements. These uncertainties and contingencies can directly or indirectly affect, and
could cause, Kinross’ actual results to differ materially from those expressed or implied in any forward-looking statements
made by, or on behalf of, Kinross. There can be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements
are provided for the purpose of providing information about management’s expectations and plans relating to the future. All of
the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our
other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary
statements made in the "Risk Factors" section of our Annual Information Form dated March 27, 2025 and the "Risk Analysis"
section of our full-year 2024 Management’s Discussion & Analysis. These factors are not intended to represent a complete list
of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking
statements or to explain any material difference between subsequent actual events and such forward looking statements,
except to the extent required by applicable law.
Other information
Where we say “we”, “us”, “our”, the “Company”, or “Kinross” in this news release, we mean Kinross Gold Corporation and/or
one or more or all of its subsidiaries, as may be applicable.