Tasiast Gold Mine

Tasiast
Location
Tasiast
Location of Tasiast Gold Mine
Region Inchiri
Country Mauritania
Coordinates 20°35′0″N 15°30′0″W / 20.58333°N 15.50000°W / 20.58333; -15.50000Coordinates: 20°35′0″N 15°30′0″W / 20.58333°N 15.50000°W / 20.58333; -15.50000
Production
Production 56,611[1]
Financial year 2010
History
Opened 2008
Active 2008-present
Owner
Company Kinross Gold
Website kinross.com
Year of acquisition 2010

The Tasiast gold mine is an open pit gold mine in Mauritania, owned and operated by Kinross Gold.The mine is located 300 kilometres (190 mi) north of the capital of Nouakchott.

History

The Tasiast Gold Mine began production in 2008.

In 2010, Kinross Gold purchased it as part of a $7.1-billion takeover of Red Back Mining in 2010.

Planned Expansion

Following the purchase, Kinross began an expansion of the mine, which is scheduled to finish in 2014, increasing production from 56,000 ounces per year (as of 2010) to 1.5 million.[1][2] [3] As of August 2010 the expansion project was expected to be $1 billion over budget,[4] but it later got scaled back.[5]

Kinross plans to build training facilities in the area, including a School of Mines.[6]

Controversies

In 2015, the company came under fire in the Mauritanian media for allegedly favouring contractors tied to the government; Kinross Gold denied the allegations.[7]

References

  1. 1 2 "Tasiast, Mauritania". Kinross Gold. Retrieved 27 August 2011.
  2. ↑ "In Canada, a Merger for Miners of Gold". The New York Times (AP). August 2, 2010. Retrieved August 2, 2010.
  3. ↑ "Kinross eyes further growth at Tasiast mine". Financial Post. August 18, 2011. Retrieved 28 August 2011.
  4. ↑ Keith, Darcy (15 August 2011). "Upgrades for Kinross, Sprott and CN Rail". The Globe and Mail. Retrieved 28 August 2011.
  5. ↑ "Kinross’s clash with contractors over West African gold mines", The Globe and Mail, 04 Oct 2015 http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/kinrosss-clash-with-contractors/article26645323/
  6. ↑ Marouf, Oudaa (1 December 2010). "Kinross to Invest $1.5 Billion in Mauritania's Tasiast Gold Mine". Bloomberg. Retrieved 28 August 2011.
  7. ↑ "Kinross’s clash with contractors over West African gold mines", The Globe and Mail, 04 Oct 2015 http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/kinrosss-clash-with-contractors/article26645323/
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