Kinross buys Alaska gold project

Canadian miner Kinross Gold on Wednesday announced that it would acquire a 70% interest in the Peak Gold project, about 400 km south-east of the company’s Fort Knox mine. The project, which it is buying from Royal Gold and Contango ORE, for $93.7-million in cash, is seen as a low-risk “tuck-in” to supplement the miner’s existing Alaska operation. Kinross expects to start production at the openpit Peak Gold project in 2024, with total production of about one-million gold-equivalent ounces (GEO) at mining grades of 6 g/t over 4.5 years.