Tasiast Gold Mine

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Tasiast
Location
Tasiast is located in Mauritania
Tasiast
Tasiast
Location of Tasiast Gold Mine
RegionInchiri
CountryMauritania
Coordinates20°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
Production56,611[1]
Financial year2010
History
Opened2008
Active2008-present
Owner
CompanyKinross Gold
Websitekinross.com
Year of acquisition2010

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 in a wadi called Khatt Atui.

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.

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. ^ Jump up to: a b "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 https://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 https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/kinrosss-clash-with-contractors/article26645323/

External links[]

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