TSX:FNV 86.37 -0.27 -0.31%
Volume 303,633
March 24, 2017
NYSE:FNV 64.58 -0.37 -0.57%
Volume 524,925
March 24, 2017
Gold 1,246.90 -2.40 -0.19%
Volume 3
March 23, 2017
Contact Share

Location: Mauritania
Operator: Kinross Gold Corporation
Royalty: NSR: 2%

Franco-Nevada has a 2% NSR royalty on the Tasiast project operated by Kinross. Franco-Nevada’s royalty first became payable in the third quarter of 2011. Kinross acquired control of Tasiast in September 2010 pursuant to its acquisition of Red Back Mining Inc. The royalty originally covered three large permit areas in Mauritania, West Africa of which the most prominent is Tasiast with a currently reported mining license area of 312 km2 and a total exploration license area of 3,118 km2.

In 2015, Tasiast produced 219,600 ounces of gold compared to 260,485 ounces produced in 2014 due to lower planned dump leach production. Kinross made improvements to the current operation in the fourth quarter of 2015 which included upgraded crushing and grinding capacity, resulting in increased average throughput of 7,500 tonnes per day compared with 6,800 tonnes per day previously.

Kinross is finalizing studies on a two-phased expansion plan. The two-phased expansion is expected to leverage existing mill infrastructure to optimize the current operation in the near term and lower overall capital costs compared with earlier project forecasts. Phase One of the potential expansion contemplates adding incremental grinding capacity to the operation’s existing comminution circuit to increase mill nameplate capacity from the current 8,000 tonnes per day to 12,000 tonnes per day. Phase Two contemplates further increasing throughput capacity with the installation of additional milling, leaching, thickening and refinery capacity. Kinross expects to complete and provide results of the Phase One feasibility study and the Phase Two pre-feasibility study in the first quarter of 2016.

2015 2014 2013
Total Revenue to FNV ($ million) $ 5.0 $ 7.1 $ 6.6