Production is expected to average 540,000oz/y through 2031, with total production expected to increase 24% over the remaining mine life compared with the 2014 prior technical report.

Kinross completed an asset optimisation programme in 2019 which included a comprehensive grade control programme which resulted in better characterisation of the orebody, an improved ability to predict and react to ore variability, and better mill efficiency with improvements in throughput and recovery. Mining rates and overall productivity have also been enhanced, while renewable power was added with the investment in two hydroelectric power plants in 2018.

These improvements led Paracatu to record production in 2019 of 619,563oz gold-equivalent, almost 100,000oz more than in 2018, with a 20% reduction in the cost of sales per ounce sold.

Paracatu had reserves of 8.1Moz at the end of 2019, measured and indicated resources of 4.1Moz, and inferred resources of 368,000oz.