Kinross Gold announces promising great bear PEA

Mining

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Kinross Gold Corporation (NYSE:KGC) has completed a Preliminary Economic Assessment (PEA) for the Great Bear project in Red Lake, Ontario.

The PEA outlines a high-margin operation with an initial mine life of 12 years and a production cost of sales of $594 per ounce.

The project is expected to produce over 500,000 ounces annually at an all-in sustaining cost of approximately $800 per ounce during the first eight years.

"This PEA marks an important milestone for Great Bear and reaffirms our view of it as a high-quality asset with robust economics," said Paul Rollinson, CEO of Kinross Gold Corporation.

He also noted the ongoing drilling efforts at depth, which have revealed multiple wide, high-grade intercepts beyond the current resource.

This indicates continued mineralization and the potential for further resource growth and extended mine life.

Following the announcement, Kinross Gold's share price rose over 2% to trade at $8.52 in early trading.