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Kupol, Russia

Located in the Chukotka region of the Russian Far East, the Kupol mine is an underground operation.

Quick Facts

  • Ownership: 100% Kinross
  • Location: Chukotka Autonomous Okrug, Russia
  • Mining: Underground
  • Processing: Milling, Merrill-Crowe, gravity
  • 2013 gold equivalent production: 550,188 oz.
  • 2013 cost of sales per ounce: US$507/oz.
  • 2013 Proven and probable reserves: 2.0M oz. gold;  26.4M oz. silver

 

 
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Kinross acquired a 75% interest in the Kupol project in Russia on February 28, 2007, through the acquisition of Bema Gold. On April 27, 2011, Kinross acquired the 25% of Kupol it did not already own through its subsidiary, Chukotka Mining and Geological Company, giving Kinross 100% ownership of the Kupol mine.

The Kupol deposit is located in the Chukotka Autonomous Okrug of the Far East Region of the Russian Federation. The total distance between the Kupol property and Bilibino, the nearest major city, is approximately 200 kilometres.

The Kupol mine consists of a high-grade gold and silver vein, which remains open along strike. Development and construction of the project began in 2005. In May 2008, Kinross announced that the mill had begun processing ore and that the Kupol mine had produced its first ounce of gold-silver dore. In early 2011, Kupol produced its 2 millionth ounce of gold. Kupol has also produced over 20 million ounces of silver since the beginning of its operations.

Mineral Reserve and Resource Summary

Kinross' share as at December 31, 2013

 

Tonnes

Grade

Ounces

Gold

( X 1,000)

(g/t)

( X 1,000)

Proven and Probable Reserves

7,411

8.73

2,081

Measured and Indicated Resources(a)

-

-

-

Inferred Resources 400 13.90 179

a) Measured and Indicated Resources exclude Proven and Probable Reserves

 

 

 

 

 

 

Tonnes

Grade

Ounces

Silver

( X 1,000)

(g/t)

( X 1,000)

Proven and Probable Reserves

7,411

111.0

26,440

Measured and Indicated Resources(a)

-

-

-

Inferred Resources 400 214.0 2,752

a) Measured and Indicated Resources exclude Proven and Probable Reserves