Mining News: News Nuggets: More gold at less cost for Kensington

Coeur Mining Inc. Aug. 4 announced that it now expects the Kensington Mine to produce 115,000-125,000 ounces of gold in 2015, compared to its previous guidance of 110,000-115,000 oz for the year. The company anticipates the cost of sales per oz of gold from the Southeast Alaska Mine for 2015 to be US$850-US$900, a marked improvement compared to the US$900-US$975 per oz originally forecast. The Kensington Mine produced 63,754 oz of gold during the first six months of 2015, a 19 percent increase over the 53,517 oz recovered during the first half of last year. Development of a decline to the Jualin deposit has begun and underground drilling of this high-grade gold deposit at Kensington is expected to begin early in 2016. According to a new mine plan for Kensington, mining is expected to begin at Jualin in mid-2017 at a mining rate of about 250 tons per day, and increase to 500 tons per day in early 2018. By 2018, the first full year of production after Jualin comes online, gold production at Kensington is expected to reach 149,000 oz.

- Shane Lasley