Kinross Gold Corporation · TSX:K
Kinross Gold — Corporate Update (October 2023)
35 slides from Kinross Gold's corporate update, Oct 12, 2023
Slide 1: Tasiast Analyst Tour
Tasiast Analyst Tour October 12th, 2023
Slide 2: Cautionary Statement on Forward-Looking Information
October 2023 Cautionary Statement on Forward-Looking Information All statements, other than statements of historical fact, contained or incorporated by reference in or made in giving this presentation and responses to questions, including but not limited to any information as to the future performan
Slide 3: Welcome to the Tasiast Mine – October 12th, 2023
Tasiast Analyst Tour - October 2023 Welcome to the Tasiast Mine – October 12th, 2023 TASIAST MINE SITE TOUR AGENDA TODAY’S PRESENTERS Arrival at Tasiast Claude Schimper EVP and Chief Operating Officer Afjal Hashim VP & General Manager, Tasiast General Management Presentation Mike Papadakis VP & Depu
Slide 4: Agenda
Agenda 1. Health and Safety Induction 2. Tasiast Cultural Excellence 3. Asset Overview 4. Asset Details 5. Site Visit Walkthrough 4
Slide 5: Health & Safety Induction
Health & Safety Induction KINROSS
Slide 6: Site Specific Inductions
Tasiast Analyst Tour - October 2023 Tasiast Site Specific Inductions INDUCTIONS OVERVIEW ✓ Mauritania security briefing ✓ Quick site induction for visitors 1.Site ❑ General Site Induction Inductions (1 Day) ❑ Process Plant Induction ❑ Mine Area specific Induction ❑ Tasiast Security Induction ❑ PPE &
Slide 7: Emergency Evacuation Procedure
Tasiast Analyst Tour - October 2023 Emergency Evacuation Procedure On discovering a fire • Raise the alarm by activating the nearest call point. • Only tackle the fire if it is small enough to do so safely and confidently • Immediately leave the building to the nearest assembly point On hearing the
Slide 8: Medical assistance onsite
Tasiast Analyst Tour - October 2023 Medical assistance onsite Medical Assistance on site Emergency Response Team Tasiast has a world-class mine site medical clinic (run by In case of an incident onsite, Tasiast has a dedicated ISOS) which: Emergency Response Team. o Features a well-equipped onsite c
Slide 9: Cultural Excellence
Tasiast Cultural Excellence 9
Slide 10: Road Map to Tasiast Excellence
Tasiast Analyst Tour - October 2023 Road Map to Tasiast Excellence ▪ Risk Management - disciplined journey to improve safety culture at site o Safety of our People and Mitigating our Business Interruption Risks First Priorities o People | Process | Technology – continually refresh < Effective Plans
Slide 11: A strong safety culture to optimize risk management
Tasiast Analyst Tour - October 2023 A strong safety culture to optimize risk management GUIDING Today 2024 + PRINCIPLES People • Speed up Learning Teams Culture o 1. Learn from front line staff 2. Dialogue to understand & avoid blame culture 3. Build in resiliency Better people • Implement 1. Safety
Slide 12: Driving a culture of excellence via development and DEI
Tasiast Analyst Tour - October 2023 Driving a culture of excellence via development and DEI Shared Vision of Excellence – Diversity, Equity and Inclusion – Training & Development – expectations for success ‘Forward Together’ via ONE Tasiast Culture Knowledge and expertise rich environment • Taking t
Slide 13: Asset Overview
Asset Overview KINROSS 13
Slide 14: Country Overview
Tasiast Analyst Tour - October 2023 Country Overview MAURITANIA OVERVIEW Canary Islands Morocco • Population of 4.6M persons (2021), with an official language of Arabic (Spain) • Mining-friendly democracy which gained independence in 1960 Algeria o Mining is a major industry; alongside fishing and o
Slide 15: Asset Overview
Tasiast Analyst Tour - October 2023 Asset Overview OPERATIONAL OVERVIEW • 100% owned by Kinross • Located in Inchiri, Mauritania; within the Aouéouat greenstone belt • 5.7Moz of proven & probable reserve, 1.5Moz of measured & indicated resource, 1.4Moz of inferred resource(1) • Open-pit mining metho
Slide 16: Tasiast's Relations with Mauritania's Government & People
Tasiast Analyst Tour - October 2023 Tasiast’s Relations with Mauritania’s Government & People GOVERNMENT RELATIONS COMMUNITY RELATIONS Local content Regular CR activities • Mauritania is presently enjoying a period of stability, in contrast to challenges ▪ 2-yr convention signed to provide ▪ Mobile
Slide 17: Corporate Responsibility & Tasiast's Contribution
Tasiast Analyst Tour - October 2023 Corporate Responsibility & Tasiast’s Contribution 2022 Socio-Economic Benefits in Mauritania $72.4 million $220 million $87.2 million 1,464 2,872 203,659 Wages and benefits paid Procurement Payments to Employees Contractors Beneficiaries of governments community p
Slide 18: Asset History & Land Ownership
Tasiast Analyst Tour - October 2023 Asset History & Land Ownership ASSET HISTORY • Commercial production began in 2008 with mill and heap leach processing • Acquired by Kinross in September 2010 SENISA • 3 mill expansions completed to date, most recently final expansion to 24k • Mill project expansi
Slide 19: Key Infrastructure
Tasiast Analyst Tour - October 2023 Key Infrastructure CAMP (TTV) MINE MOBILE MAINTENANCE SHOP • Accommodates 3,000 persons, with • West Branch (WB) – primary • 20 trucks to undergo planned capital ~2,700 persons currently on site operating pit rebuilds in 2023; most in Tasiast • Mosque – integral t
Slide 20: Key Infrastructure
Tasiast Analyst Tour - October 2023 Key Infrastructure MILL TAILINGS STORAGE FACILITIES POWERHOUSE AND SOLAR • Acquired in 2010 with first production • 3 storage facilities on site • Currently installed capacity of 60 MW under full Kinross ownership in o 2 at capacity, with 1 in operation via Wartsi
Slide 21: Asset Details
Asset Details KINROSS 21
Slide 22: Geology Overview
Tasiast Analyst Tour - October 2023 Geology Overview • The GDI mineralization, is structurally controlled by a set of anastomosed shear zones. High grade mineralization displays lenses geometry that pinch and swell as the shear zones link up and depart from each other. GDI intrusion is the major hos
Slide 23: Mining Overview
Tasiast Analyst Tour - October 2023 Mining Overview MINING PROCESS – STANDARD OPEN PIT MINING PRODUCTION FLEET • 6 shovels WB4 Pit • 2 large wheel loaders • 2 excavators • 12 production drills Ore Waste • 45 haul trucks (CAT 793) • 6 Hitachi EH4000 Trucks expected in 2024 Waste MINING PRODUCTION Sto
Slide 24: Processing Flowsheet
Tasiast Analyst Tour - October 2023 Processing Flowsheet • The Tasiast CIL Plant consists of a SAG in closed circuit with a cyclone cluster • Cyclone overflow is pumped to two, parallel Ball Mills • Gravity circuit uses Knelson concentrators and Gekko ILRs to recover coarse gold • Leaching circuit c
Slide 25: Processing Overview & Expansion Update
Tasiast Analyst Tour - October 2023 Processing Overview & Expansion Update PROCESSING & PRODUCTION 8.0 Ounces Produced (koz) 6.8 700 6.6 7.0 Tonnes Milled (Mt) ~3.6Moz produced to date(1) 600 6.0 5.2 5.3 500 5.0 3.7 3.7 400 4.0 3.0 2.6 2.6 2.5 2.6 2.5 2.5 ~ 610 300 3.0 539 186 407 2.0 391 200 0.6 24
Slide 26: Looking Forward – Life of Mine Production
Tasiast Analyst Tour - October 2023 Looking Forward – Life of Mine Production 2023 A’ A 2024 Looking East 2025 2025 WB5 2026 2026 Sep. 30 ‘23 Surface PLAN VIEW – 4,850 RL 2027 WB4 2027 2023 WB5 Stripping is 2024 WB4 mining to deliver high critical to deliver 2028 grade ore to the mill until 2028 hig
Slide 27: Looking Forward – Life of Mine Production
Tasiast Analyst Tour - October 2023 Looking Forward – Life of Mine Production MINING & PROCESSING(1) M tonnes Strip Ratio 15 Ore Tonnes Mined 15x Tonnes Milled Strip Ratio 0 0x (2) 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 GRADES & PRODUCTION(1) Koz g/t 800 4.0 Ounces Produced
Slide 28: Looking Forward – Underground Potential at Tasiast
Tasiast Analyst Tour - October 2023 Looking Forward – Underground Potential at Tasiast WEST BRANCH UG STUDY West Branch • Underground study was completed by an independent consultant in 2021 with existing Inferred Resource(1) o 6 scenarios developed: 3 x Longhole Open Stoping (LHOS) and 3 x Sub-Leve
Slide 29: Looking Forward – Underground Potential at Tasiast
Tasiast Analyst Tour - October 2023 Looking Forward – Underground Potential at Tasiast UNDERGROUND TARGETS SPAN West Branch Piment Prolongation ACROSS MINERALIZATION • In addition to West Branch, targets identified at Piment and Prolongation o Currently ~230koz of Inferred Resource contained at Pime
Slide 30: Future Opportunities at Tasiast
Tasiast Analyst Tour - October 2023 Future Opportunities at Tasiast Working Capital 1 Extend Mine life 2 Operations Efficiency 3 Optimization Underground potential for Dump optimization West Branch (1.1Moz) , Future opportunity in Piment (0.2Moz) & Near Mines In pit Tailings Prolongation deposit Pro
Slide 31: Site Visit Walkthrough
Site Visit Walkthrough KINROSS 31
Slide 32: Site Visit Walkthrough
Tasiast Analyst Tour - October 2023 Site Visit Walkthrough Link to 3D Site Visit 32
Slide 33: Q&A
Q&A KINROSS 33
Slide 34: Appendix A – 2022 Annual Mineral Reserve and Resource Statement
Appendix -A 2022 Annual Mineral Reserve and Resource Statement Proven and Probable Mineral Reserves IMINERAL RESERVE AND MINERAL RESOURCE STATEMENT KINROSS GOLD PROVEN AND PROBABLE MINERAL RESERVES Kinross Gold Corporation's Share at December 31, 2022 Kinross Proven Probable Proven and Probable Loca
Slide 35: Slide 35