Kinross Gold Greenlights Three U.S. Growth Projects to Add 3 Million Ounces and Extend Mine Lives

Kinross Gold ( (TSE:K) ) has issued an update.

On January 15, 2026, Kinross Gold announced it will proceed with construction of three organic growth projects in the United States: Round Mountain Phase X and Bald Mountain Redbird 2 in Nevada, and the Kettle River-Curlew underground project in Washington. Based on internal studies and exploration work, the trio is expected to add roughly 3 million gold-equivalent ounces to Kinross’s life-of-mine production between 2028 and 2038, support maintaining output at about 2 million gold-equivalent ounces per year, and extend mine lives at its U.S. assets well into the 2030s. The projects are projected to deliver strong economics, including a combined post-tax NPV of $4.1 billion and IRR of 55% at a $4,300 gold price, with average all-in sustaining costs around $1,650 per gold-equivalent ounce, and will be funded from operating cash flow, with about $425 million of related capex planned for 2026 within a total global capex budget of $1.5 billion. Round Mountain Phase X and Curlew advance Kinross’s grade enhancement strategy by adding higher-grade underground production that is expected to lower long-term costs and initially extend Round Mountain’s mine life to 2038, while Bald Mountain Redbird 2 and satellite deposits are set to sustain low-cost open-pit mining at Bald Mountain to at least early 2032. Management highlighted that these developments, together with the completion of a $600 million share repurchase program in 2025, reinforce Kinross’s focus on self-funded growth, cost control and shareholder returns as it positions its U.S. portfolio for higher-margin production starting in 2028.

The most recent analyst rating on (TSE:K) stock is a Buy with a C$53.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Spark’s Take on TSE:K Stock

According to Spark, TipRanks’ AI Analyst, TSE:K is a Outperform.

Kinross Gold’s strong financial performance and positive earnings call are the most significant factors driving the score. The company’s robust cash flow, strategic shareholder returns, and solid technical indicators further support a favorable outlook. While valuation is reasonable, historical income fluctuations and moderate ROE suggest areas for improvement.

To see Spark’s full report on TSE:K stock, click here.

More about Kinross Gold

Kinross Gold Corporation is a Canada-based senior gold mining company with shares listed on the TSX and NYSE. The company operates a portfolio of mines and development projects, with a significant operational and growth focus in the United States, particularly in Nevada and Washington, and pursues a strategy of enhancing grades, extending mine lives and maintaining annual production around 2 million gold-equivalent ounces while preserving a strong balance sheet and capital returns program.

Average Trading Volume: 4,093,847

Technical Sentiment Signal: Buy

Current Market Cap: C$55.79B

Learn more about K stock on TipRanks’ Stock Analysis page.