Kinross Gold is moving forward with construction on three key growth projects in the US – Round Mountain Phase X, Bald Mountain Redbird 2, and Kettle River-Curlew. These projects aim to extend mine life and optimize costs, projecting a production of around 3 million ounces of gold equivalent by 2038.

The company plans to maintain an annual production rate of 2 million gold equivalent ounces, with production from these projects expected to begin in 2028. At a projected gold price of $4,300/oz, the combined internal rate of return is estimated at 55%, with a net present value of around $4.1bn.

The Round Mountain Phase X project is set to enhance production by 1.4 million gold equivalent ounces, extending the mine’s life until 2038. Transitioning to higher-grade bulk tonnage underground mining is expected to lower costs, with an all-in sustaining cost of $1,680/oz and a production cost of sales of $1,576/oz.

Kinross plans to restart operations at the Kettle River mill to process high-grade ore from the Curlew deposit, expecting to yield around 100,000 gold ounces annually over the first five years. Meanwhile, Bald Mountain’s Redbird 2 project forecasts a post-tax NPV of $1bn and an IRR of 58%, also assuming a $4,300 gold price.

CEO Paul Rollinson expressed excitement about the new growth projects and their contribution to the company’s portfolio. The projects are expected to extend mine lives and benefit long-term costs in the US, with attractive economics and a cumulative NPV exceeding $4.1bn at a $4,300 gold price.

In September 2025, Kinross completed the sale of 29.85 million common shares in Asante Gold, representing approximately 4.2% of Asante Gold’s total outstanding shares and around 44.7% of Kinross’ stake in the company.

Read more at Yahoo Finance: Kinross Gold advances construction on three US projects