CHIRANO GOLD MINE JV

• OwnershipGovernment of Ghana holds a 10% carried interest;

90% Kinross

• MiningUnderground
• LocationGhana, West Africa
• ProcessingMilling
• Expected Life of Mine2025
• 2020 Gold Equivalent Production166,590 oz.
• 2020 Cost of SalesUS $1,180/oz.
• 2020 Proven and Probable Reserves974 Au koz.(as of December 31, 2020)

Chirano is an open-pit and underground operation located in southwestern Ghana, approximately 100 kilometres southwest of Kumasi, the country’s second largest city.

In 2016, the site transitioned from mining the Akwaaba deposit to the Paboase underground deposit, and in Q1 2019, open pit operations restarted. Chirano ore is processed at the mine’s mill, which has capacity of approximately 3.5 million tonnes per year.

Exploration

Exploration at Chirano over 2020 focused on resource conversion and mine life extension. Exploration and engineering success added 660 Au koz. to Chirano’s mineral reserve estimates before depletion, which resulted in a three-year mine life extension to 2025, with opportunities for further extensions.