Published: 2019.09.23. Kinross: high price of gold will support mining

Kinross: high price of gold will support mining - Preview

According to the director of the gold mining company Kinross Gold Corp., the world price of gold has formed a solid support level at around $ 1,500 per ounce. This means that his company can now safely develop a gold mine in West Africa.

Kinross also announced that it intends to spend $ 150 million to increase capacity at the Tasiast field in Mauritania by 2023 to 24,000 tons of ore per day. “We will achieve the targets with much less capital,” the statement said, while the company will have $ 300 million to finance this project.

“Mauritania is a country that is still looking for foreign investment to implement projects in the extractive industry. And our company will be a good example for the rest of the world, ”said the head of Kinross.