Following prospecting works in 2018, Kinross Gold has decided to extend the development of the Kupol gold deposit in Chukotka till 2023.
Previously it was supposed to wrap up work at the deposit in 2022.
The increase of reserves enabled the company to extend the work at the site.
This year Kinross Gold will spend $20 million on prospecting.
In 2018 Kupol yielded 489.9 thousand ounces of gold, down by 15.6% YoY, mostly due to the lower content of gold in ore. (Ukrainian metal)