Kinross Gold at Mining Forum Americas 2026: growth plans offset setbacks

On September 29, 2026, Kinross Gold Corporation (KGC) addressed a mixed performance at Mining Forum Americas 2026. The company reported a short-term production reduction due to issues at two smaller mines, Round Mountain in Nevada and La Coipa in Chile. However, Kinross maintained that these problems are temporary and do not impact their broader investment case. The company emphasized its commitment to strengthening its balance sheet and advancing significant developments in Canada and Chile.

Kinross announced a 2% to 3% cut in its guidance, or around 40,000 to 60,000 ounces, attributed to the aforementioned mine issues. Despite this, the company increased its shareholder return target from 40% to 50% of free cash flow, citing robust cash generation and a strong balance sheet. Kinross began the year with $1 billion in net cash and projected a similar figure by the end of the year.

Approximately two-thirds of the company's production comes from its three non-U.S. mines, which serve as the main cash engine, generating about 2 million ounces of gold annually.

The company's long-term growth strategy hinges on major projects in Ontario and Chile, Great Bear and Lobo Marte, respectively. Kinross highlighted a capital-return policy and projected a year-end net cash balance of about $2 billion, with daily liquidity ranging from $300 million to $500 million. Chief Executive Paul Rollinson emphasized the importance of the company's three non-U.S. mines, Tasiast in Mauritania, Paracatu in Brazil, and Macao, which contribute about two-thirds of production and have an all-in sustaining cost of approximately $1,500 per ounce.