Kinross provides update on Lobo-Marte project
Original announcement by globenewswire on
- Company
- Kinross Gold Corporation
- Ticker
- K
- Exchange
- Unavailable
- Region
- Chile
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update, Production, Metallurgy
- Extracted
- 2026-08-20 19:28:02 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Kinross Gold Corporation provided an update on its Lobo-Marte project in Chile, highlighting robust economics with an estimated NPV of $4.3 billion and an IRR of 26% at a $4,100/oz gold price. The project is expected to produce approximately 350,000 gold ounces annually over an initial 15-year mine life, supported by 6.7 Moz of proven and probable reserves. Permitting is advancing, with first gold production targeted for the early 2030s.
Reasoning: Kinross Gold's update on the Lobo-Marte project confirms robust economics, a substantial gold reserve and resource base, and progress in permitting, positioning it as a significant long-term asset with low operating costs and high returns.
Positive factors
- Robust project economics with high NPV and IRR
- Large proven and probable gold reserves
- Significant measured and indicated resource base
- Permitting process advancing on track
- Low all-in sustaining costs for gold production
- Long projected mine life
- Strong gold recovery for heap leach processing
Negative factors
- Resource estimate based on 2021 FS pit design, which only includes a portion of the total resource, suggesting potential for future changes.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 5
Classification and evidence
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The mineral reserve and resource estimates were prepared under the supervision of and verified by Mr. Nicos Pfeiffer, a qualified person as defined by NI 43-101.
Evidence · text
“The Company’s mineral resource and mineral reserve estimates were prepared under the supervision of and verified by Mr. Nicos Pfeiffer, who is a qualified person as defined by NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The mineral reserve and resource estimates are classified in accordance with NI 43-101.
Evidence · text
“classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) “CIM Definition Standards For Mineral Resources and Mineral Reserves” adopted by the CIM Council (as amended, the “CIM Definition Standards”) in accordance with the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”).”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document provides a high-level update of the 2021 feasibility study economics.
Evidence · text
“high-level update of the 2021 feasibility study (“FS”) economics”
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: The resource estimate is part of an update to a feasibility study, which supports a Definitive Feasibility Study level of confidence.
Evidence · text
“update of the 2021 feasibility study (“FS”) economics”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The document states the assumed gold prices for mineral reserve ($2,000/oz) and mineral resource ($2,500/oz) estimates, which define the cut-off grades.
Evidence · text
“mineral reserves are estimated using appropriate cut-off grades based on an assumed gold price of $2,000 per ounce”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Resource Estimates (5)
proven_probableLobo-Marte · goldTonnes: 160702000Grade: 1.3Grade Unit: g/tContained Metal: 6733000Contained Unit: ozView all detailsHide details
Identity
- Project
- Lobo-Marte
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- K
Resource Data
- Category
- proven_probable
- Tonnes
- 160702000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 6733000
- Contained Unit
- oz
- Cutoff Grade
- 2000
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-29T00:00:00.000Z
Reasoning: The project boasts an exceptional 6.7 Moz of gold in Proven & Probable reserves, indicating high confidence and significant scale, with an economic grade of 1.3 g/t Au for an open pit operation.
Positive factors
- Large contained metal (6.7 Moz gold is exceptional)
- High confidence category (Proven & Probable)
- Economic grade for open pit (1.3 g/t Au)
Evidence · table
“160,702”
Context: 6,733
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The document explicitly states 'Proven & Probable Reserves' of 6.7 Moz gold.
Evidence · table
“Proven & Probable Reserves”
Context: 6,732
indicatedLobo-Marte · goldTonnes: 120762000Grade: 0.71Grade Unit: g/tContained Metal: 2752000Contained Unit: ozView all detailsHide details
Identity
- Project
- Lobo-Marte
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- K
Resource Data
- Category
- indicated
- Tonnes
- 120762000
- Grade
- 0.71
- Grade Unit
- g/t
- Contained Metal
- 2752000
- Contained Unit
- oz
- Cutoff Grade
- 2500
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-29T00:00:00.000Z
Reasoning: The project includes a strong 2.75 Moz of gold in Indicated Resources, providing a good level of confidence, though the grade of 0.71 g/t Au is considered marginal for an open pit operation.
Positive factors
- Strong contained metal (2.75 Moz gold is strong)
- Good confidence category (Indicated Resource)
Negative factors
- Marginal grade for open pit (0.71 g/t Au)
Evidence · table
“120,762”
Context: 2,752
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The document explicitly states 'Indicated Resources' of 2.75 Moz gold.
Evidence · table
“Indicated Resources”
Context: 2,752
inferredLobo-Marte · goldTonnes: 32911000Grade: 0.63Grade Unit: g/tContained Metal: 670000Contained Unit: ozView all detailsHide details
Identity
- Project
- Lobo-Marte
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- K
Resource Data
- Category
- inferred
- Tonnes
- 32911000
- Grade
- 0.63
- Grade Unit
- g/t
- Contained Metal
- 670000
- Contained Unit
- oz
- Cutoff Grade
- 2500
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-29T00:00:00.000Z
Reasoning: The project includes a moderate 0.67 Moz of gold in Inferred Resources, which is a lower confidence category and has a marginal grade of 0.63 g/t Au for an open pit operation.
Positive factors
- Moderate contained metal (0.67 Moz gold is moderate)
Negative factors
- Lower confidence category (Inferred Resource)
- Marginal grade for open pit (0.63 g/t Au)
Evidence · table
“32,911”
Context: 670
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The document explicitly states 'Inferred Resources' of 0.67 Moz gold.
Evidence · table
“Inferred Resources”
Context: 670
Fact 4Lobo-Marte · goldView all detailsHide details
Identity
- Project
- Lobo-Marte
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- K
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-29T00:00:00.000Z
Reasoning: The Lobo-Marte project demonstrates robust production economics with high annual gold output, low operating costs, and strong financial metrics including a high NPV and IRR, and a short payback period.
Positive factors
- High average annual production
- Long life-of-mine production
- Low all-in sustaining cost
- High NPV and IRR
- Short payback period
- Low average mining cost
- Low average processing cost
Evidence · text
“Average production is expected to be ~350,000 Au oz. per year during steady state operations based on the initial mine plan, with a low estimated all-in sustaining cost (“AISC”) 1 of approximately $1,000 per ounce, supported by a strong heap leach grade of 1.3 g/t and low overall strip ratio of 2.0:1. Robust economics: Estimated Net Present Value (“NPV”) 2 of $4.3 billion, Internal Rate of Return 3 (“IRR”) of 26% and payback of 2.3 years at a $4,100 per ounce gold price.”
Fact 5Lobo-Marte · goldView all detailsHide details
Identity
- Project
- Lobo-Marte
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- K
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-29T00:00:00.000Z
Reasoning: The project demonstrates a strong 69% gold recovery via heap leach processing, supported by extensive metallurgical studies, which is positive for project economics.
Positive factors
- Strong recovery for heap leach processing
- Extensive metallurgical studies conducted
Evidence · text
“extensive metallurgical studies have been conducted to support the attractive estimated heap leach recovery of 69%.”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.