(Ecofin Agency) - TSX and NYSE listed firm, Kinross Gold, has published results of the feasibility study for the second phase of its expansion project for its Tasiast gold mine in Mauritania. The phase aims to make Tasiast a world-class project with low costs, a long lifeline, and which would generate substantial cash flows.

Results of the study show that the mine’s processing capacity should rise to 30,000 tons per day for an annual output of about 812,000 tons over the first five years and its gold will be sold at $655/oz. Construction works for the phase will begin in 2018 and sales are expected to commence in Q3 2020. 

The project whose current net value is estimated at $1.43 billion should generate $2.2 billion in cash flows throughout the mine’s lifeline. Implementation of phase 2 alone will need an investment of $590 million.  

Louis-Nino Kansoun