Kinross Gold Updates Paracatu Mine Resources & Reserves, Extends LOM to 2034
KGC has more than doubled off its 52-week low of $11.12.
Summary
Kinross Gold released an updated Technical Report for its Paracatu Mine, detailing Mineral Resources and Reserves as of December 31, 2025, and outlining a life of mine extending to 2034.
Key Events · Financing and Capital Events · KGC
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Updated Mineral Reserves
Proven and Probable Mineral Reserves total 399.64 million tonnes at 0.38 g/t gold, containing 4.84 million ounces, supporting operations until 2034. These reserves are estimated using a long-term gold price of US$2,000 per ounce.
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Revised Mineral Resources
Measured and Indicated Mineral Resources, exclusive of reserves, are 329.20 million tonnes at 0.33 g/t gold, totaling 3.52 million ounces. This represents a 6% decrease in contained ounces from the prior year, primarily due to model refinements and updated parameters.
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Strategic Cut-off Grade Maintained
The Mineral Reserve cut-off grade is maintained at 0.19 g/t gold, higher than the calculated 0.17 g/t, due to strategic and operational considerations including tailings storage capacity constraints and long-term mine development priorities.
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Sustaining Capital Plan
The Life of Mine plan includes $654 million in sustaining capital from January 1, 2026, primarily allocated for mine mobile equipment and tailings storage facility expansions.
Analysis · KGC · Energy & Transportation
This comprehensive Technical Report provides updated Mineral Resource and Reserve estimates for Kinross Gold's significant Paracatu Mine. While Measured and Indicated Mineral Resources saw a modest 6% decrease in contained gold ounces compared to the prior year, this is attributed to model refinements and strategic pit redesigns rather than a fundamental degradation of the deposit. The report confirms a robust Mineral Reserve of 4.84 million ounces of gold, supporting operations until 2034. The decision to maintain a higher cut-off grade despite economic calculations highlights prudent management of operational constraints like tailings capacity. Investors should note the long-term operational visibility and the substantial sustaining capital planned to support the mine's continued production.
At the time of this filing, KGC was trading at $28.06 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $33.5B. The 52-week trading range was $11.12 to $39.11. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.