Paracatu Mine Has Record Quarterly Production

TORONTO, ON - Kinross Gold Corporation reported that at the Paracatu in Brazil, improved grade control, mill efficiencies, high recoveries and lower power costs resulted in record quarterly production and the lowest production costs since 2010. 

The Paracatu mine is a large scale open pit operation located near the city of Paracatu in the Minas Gerais region of Brazil, approximately 230 kilometers from the capital city of Brasília. Kinross first acquired an ownership interest in the Paracatu mine upon completion of the merger with TVX on January 31, 2003. On December 31, 2004, Kinross purchased the remaining 51% from Rio Tinto.

Operations at the mine include conventional shovel/truck open pit mining, two process plants with extraction of gold using gravity, flotation and carbon-in-leach (CIL) recovery processes. Paracatu's Plant II expansion commenced production in 2008 with the addition of a new 32 million tonne per annum (Mt/a) SAG mill. Further Plant II expansions were carried out to increase grinding capacity and recovery, including installation of a third ball mill and flash flotation. An increase in processing capacity was provided with the completion of a fourth ball in September 2012.

The company’s address is 25 York Street 17th Floor, Toronto, ON M5J 2V5, (416) 365-5123, fax: (416) 363-6622, www.kinross.com.