Kinross Gold cuts production guidance due to operational challenges

Kinross Gold Corporation has lowered its production guidance for 2026 and 2027, now expecting annual attributable production of approximately 1.84 to 1.86 million gold-equivalent ounces. This represents a decrease from the previous guidance midpoint of 1.9 to 2.1 million ounces.

The reduction is attributed to operational challenges and extreme weather at two specific assets: the La Coipa mine in Chile and the Round Mountain mine in Nevada. At La Coipa, unprecedented winter weather in the third quarter disrupted mining and milling, while metallurgical issues involving copper grades and recoveries also impacted output.

Despite the lower production outlook, Kinross is increasing its target for returning capital to shareholders, raising the goal from 40% to 50% of free cash flow for 2026. The company noted that its larger operations, Paracatu and Tasiast, continue to perform well. All-in sustaining costs (AISC) for 2026 are now forecast to be between $1,850 and $1,900 per ounce.