September 16, 2019 / 3:27 PM / 3 months ago

Gold at $1,500 a new price floor, Kinross CEO says

DENVER, Sept 16 (Reuters) - Gold prices look to have established a new floor at $1,500 per ounce, Kinross Gold Corp’s chief executive officer said on Monday, giving the Canadian miner confidence to push ahead with expansion plans at a key West African mine.

“I don’t see a lot of technical barriers above it, but I do believe that there’s people buying in to where we are today,” Paul Rollinson told Reuters at the Denver Gold Forum.

Kinross on Sunday said it would spend $150-million to boost capacity its Tasiast gold mine in Mauritania to 24,000 tonnes per day by 2023. (Reporting by Jeff Lewis)

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