KGC - Kinross Gold sees output averaging 2.5M gold equiv. oz. over 10-years

In an update of its long-term production guideline, Kinross Gold ([[KGC]] +1.4%) says it expects to produce an average of ~2.5M gold equiv. oz./year during 2020-29.Kinross also reiterates previous guidance that forecasts production will increase 20% during 2021-23, with estimated output of 2.4M gold equiv. oz. in 2021, 2.7M in 2022 and 2.9M in 2023.The miner points to four growth projects which should help maintain production in coming years: the recently acquired Peak project in Alaska; the Phase S extension at Round Mountain; the Lobo-Marte project in Chile; and Udinsk, the first deposit expected to be developed at the Chulbatkan project in Russia's far east.Kinross also says it expects costs of sales per ounce sold to drop during the next three years.The 10-year outlook follows a Globe and Mail report that Kinross is looking to sell its North and South American mines to focus on its production in Russia and

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Kinross Gold sees output averaging 2.5M gold equiv. oz. over 10-years