Benzinga | Oct 20, 2020 09:08AM EDT

Kinross Gold Sees Production Averaging ~2.5M Gold Equivalent Oz. Per Year From 2020-2029

Kinross Gold Corporation (TSX:K, NYSE:KGC) ("Kinross" or the "Company") today announced that it expects to produce an average of approximately 2.5 million gold equivalent ounces (Au eq. oz.)1 per year from 2020 -- 2029 driven primarily by promising organic opportunities across its global portfolio.

The Company previously announced on September 17, 2020 that it expects to increase production by 20% from 2021 -- 2023, with estimated production (+/- 5%)1 of 2.4 million Au eq. oz. in 2021, 2.7 million Au eq. oz. in 2022, and 2.9 million Au eq. oz. in 2023. Kinross also anticipates an overall downward trend in cost of sales per ounce sold over its three-year growth profile.

Today, Kinross will host an operations update and production outlook presentation and question and answer period from 10:00 a.m. -- 12:00 p.m. ET to discuss the details of the Company's 2021 -- 2023 guidance. The Company will also provide an overview of the production, exploration and mine life extension opportunities that underpin its production outlook to 2029, and details on additional opportunities in its portfolio that could further strengthen its long-term production outlook.