Kinross may boost output 57 pct over 5 yrs
* Output could rise by 1.3 mln oz over 5 years
* Company evaluating 3 new mines, 3 expansions
* Shares rise 4.8 percent (In U.S. dollars, unless noted)
TORONTO, Sept 29 (Reuters) - Kinross Gold (K.TO) could see a 57 percent rise in gold production over the next five years if it goes ahead with new mines and expansions currently under consideration, Bloomberg reported on Tuesday.
Kinross Chief Executive Tye Burt said the Canadian miner could add about 1.3 million ounces if it goes ahead with construction of three new mines and the expansion of three current operations, according to the report. The new projects would cost about $3 billion.
The company, which expects to produce between 2.3 million and 2.4 million gold equivalent ounces this year, is considering expansion of its Maricunga and La Coipa operations in Chile and its Paracatu mine in Brazil.
The new mines currently being evaluated are the Cerro Casale and Lobo Marte projects in Chile and the Fruta del Norte deposit in Ecuador.
Burt also said the company was eyeing acquisitions, and said he wouldn't rule out a transaction of similar scale to the company's $3.5 billion takeover of Bema gold in 2007.
http://www.reuters.com/article/marketsNews/idAFN2916229520090929?rpc=44
