TORONTO — Kinross Gold Corp. says it is going ahead with the construction of three organic growth projects in the U.S. that will cost a total of nearly US$1.4 billion.
The company says the initial capital costs of its Round Mountain Phase X project in Nevada are expected to total US$400 million over four years, while the Bald Mountain Redbird 2 project in the state is expected to cost US$490 million over three years.
The Kettle River-Curlew project in Washington is expected to cost US$485 million over three years.
Kinross says the projects are expected to meaningfully extend mine life and will benefit long-term costs within its U.S. portfolio.
Chief executive Paul Rollinson says the new growth projects are expected to contribute three million ounces of life-of-mine production to its portfolio.
The company says it intends to fund the projects from operating cash flows.
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