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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (31023)	1/11/2009 8:24:32 PM
From: LoneClone	Read Replies (1) \| Respond to of 193918

Kinross expects to produce up to 2.5 million gold equivalent ounces in 2009 brandonsun.com Kinross Gold Corp. (TSX:K) is expecting production for 2009 to be approximately 2.4 million to 2.5 million gold equivalent ounces, up 32 per cent from last year. The Toronto-based gold miner said Wednesday that the average cost of sales per gold equivalent ounce for 2009 is expected to be in the range of US$390 to $420, while capital expenditures are forecast to be approximately $460 million. "Our three new projects at Paracatu, Kupol and Buckhorn are expected to increase production by approximately 32 per cent compared to 2008, while significantly reducing our overall cost of sales per ounce," Kinross president and chief executive Tye Burt said. In 2008, Kinross said its production should total between 1.8 million and 1.9 million gold equivalent ounces, in line with its previously stated guidance for the full year. Based on a preliminary review of fourth quarter costs, Kinross expects its full-year average cost of sales also to be in line with its previously stated cost of sales guidance range of $425 to $445 per gold equivalent ounce.