Mauritania temporarily suspends milling activities at Tasiast gold mine
Kinross Gold Corporation has temporarily suspended milling activities at its Tasiast gold mine in western Mauritania following a fire that occurred recently. The company confirmed on Tuesday that the fire has been fully extinguished and that there were no injuries. Despite the incident, mining operations at the site are continuing without interruption.
Preliminary assessments indicate that the fire was contained to the discharge area of the semi-autogenous grinding (SAG) mill. Kinross has begun an investigation into the cause of the fire and is currently evaluating the extent of the damage. The company has essential spare parts available on-site, which is expected to support a timely repair process.
Tasiast gold mine
Kinross stated that, based on current evaluations, it does not expect the incident to affect its 2025 production guidance for Tasiast. The Tasiast mine, located approximately 300 kilometers north of Mauritania’s capital, Nouakchott, produced over 622,000 gold-equivalent ounces in the previous year. The site holds 4.7 million ounces of proven and probable gold reserves.
Following the announcement, Kinross shares rose 1% in early Tuesday trading, reaching C$20.13. This places the stock close to its 52-week high of C$20.34 and gives the company a market capitalization of approximately C$24.7 billion.
