Kinross Temporarily Halts Tasiast Mill Operations Following Fire

Core Insights - Kinross Gold Corporation has temporarily suspended mill operations at its Tasiast mine due to a fire that occurred on April 14, 2025, which has been extinguished without any reported injuries [1][2] - The company is investigating the fire's cause and assessing damage, but does not expect changes to its production guidance for Tasiast, as critical spare parts are available on-site [2] - Tasiast achieved record production of 622,394 gold equivalent ounces in 2024 and is expected to produce 500,000 gold equivalent ounces in 2025 [3] Production and Financial Outlook - For 2025, Kinross expects consolidated production to be around 2 million gold equivalent ounces, with a production cost of sales estimated at $1,120 per gold equivalent ounce [4] - The all-in-sustaining cost per gold equivalent ounce is projected to be $1,500 for 2025, with attributable capital expenditures estimated at approximately $1,150 million [4] Stock Performance - Kinross shares have surged 128.2% over the past year, outperforming the industry average rise of 52% [3] - The company currently holds a Zacks Rank 3 (Hold), while other better-ranked stocks in the basic materials sector include Carpenter Technology Corporation, Idaho Strategic Resources, and ArcelorMittal [5]