On February 12th, we announced we will be proceeding with the La Coipa Restart project to mine the Phase 7 deposit in the Atacama region.
“We are excited to proceed with this project, which has strong economics and adds to our production profile, and provides the option to continue studying opportunities in the area,” said J. Paul Rollinson, President and CEO.
From 2022 to 2024, the project is expected to produce approximately 690 Au eq. koz. Initial capital costs are expected to be approximately $225 million, with pre-stripping scheduled to begin in late 2020 and production expected to begin in Q1 2022. The project plan includes refurbishing the existing process plant, camp and other infrastructure in the area, as well as the mine fleet from our Maricunga operation. All major permits required to proceed with La Coipa Phase 7 are in place.
“With 20 years of presence in Chile, re-opening La Coipa renews Kinross’ commitment to developing sustainable mining in the Atacama Region,” said Rolando Cubillos, Vice-President, Operations, Chile. “We wish to ensure that this project contributes to the development of the region, by enabling good jobs, building on our strong relationships with communities and continuing with our responsible environmental management programs.”
We continue to explore opportunities to incorporate adjacent deposits into the La Coipa mine plan with the goal of extending mine life. The pre-feasibility study at Lobo-Marte is proceeding as planned and is scheduled to be completed mid-2020.