On October 20th, Kinross announced our strong long-term production profile, which is expected to average 2.5 million gold equivalent ounces per year from 2020-2029. This outlook is driven primarily by promising organic opportunities across the Company’s global operations.
“Our growing production profile and declining cost trend over the next three years are expected to drive strong free cash flow performance, placing Kinross in an excellent position to generate substantial value for our shareholders,” said J. Paul Rollinson, President and CEO. “Furthermore, our positive long-term production outlook, with estimated average annual production of 2.5 million Au eq. oz. to 2029, provides a solid foundation to continue building value into the future.”
Kinross hosted a virtual operations update and production outlook presentation and question and answer session to discuss details of the Company’s three-year guidance. The Company also provided an overview of the production, exploration, mine life extension and additional opportunities in its portfolio that could further strengthen its long-term production outlook.
“Kinross has a diverse global portfolio with top-tier assets that have long mine lives complemented by a large mineral reserve and resource base. The reinvestments in our portfolio, continuous improvement initiatives and exploration programs have enabled us to add lower cost and lower risk projects that leverage existing infrastructure and enhance our long-term production profile. Our strong production profile, combined with our robust financial position and recently reinstated quarterly dividend, point to an exciting future for our Company,” said Paul.