Can you talk about the main highlights from Kinross in 2022 and the dynamics behind the “Kinross Nevada Model”?

There were several significant changes at Kinross in 2022. The most notable was the reshaping of our portfolio, which included the divestment of our Russian assets and the Chirano mine in Ghana. As a result, our portfolio is now primarily Americas-based, with operations in Brazil, Chile, Nevada, Alaska, and a world-class project in Canada. We also own and operate the Tasiast mine in Mauritania. In Nevada, the major change was the decision-making approach for our two Nevada properties, Bald Mountain and Round Mountain, located approximately 80 miles apart. The Kinross Nevada Model now takes a “one-team” approach for the two mines, which continue to operate as independent entities but now benefit from increased collaboration and improved sharing of best practices to increase operating efficiency while reducing the cost model.

What are the underground exploration plans at Round Mountain?

Kinross recently completed an optimization program at Round Mountain, which evaluated four primary options to exploit the significant resources at the site. The Company is prioritizing underground opportunities at Phase X and Gold Hill and expects to start construction of an underground decline this year.

What are the key exploration milestones to look forward to at Bald Mountain?

In 2022, our exploration efforts at Bald Mountain focused on targets with the highest potential to deliver a near-surface mineral resource estimate. We also expect to submit an expansion permit application shortly, which would open the opportunity for new production areas at Bald Mountain. Kinross continues to explore the large Bald Mountain land package with the view to potentially extending mine life. Bald Mountain recently won the ‘Leadership in Concurrent Mine Reclamation’ award. To minimize our environmental impact and support wildlife habitat, Bald Mountain undertook a project to backfill the pit with about 17 million t of non-ore-bearing material. We work openly and collaboratively with regulators through transparency and regular meetings.

How are you leveraging new technologies at Bald Mountain?

We continue to find applications for drone technology at Bald Mountain. Right now, we are developing a pit – Little Bald Mountain – and are mining out an area with extensive historic underground mine workings. Accessing large open stopes for mapping can be very dangerous, so we used drones to go in. By doing so, we were able to map the area and build a unique 3D model of what the mining sequence could look like.

What is your outlook for gold production in the coming years?

Worldwide, substantial new deposits are being developed, and most companies are mining portions of their deposits that were not economical years ago. This can be a challenge, but the industry’s ounce production continues to maintain or improve. That speaks to the creativeness and technical expertise of the whole value chain of the industry. It is also a testament to the quality of our workforce. We are hopeful that gold prices reflect the challenges of inflation, but naturally, we would like to see gold prices higher.