Weak gold prices may hinder Kinross' Mauritania mine expansion

Wed Nov 5, 2014 5:58pm EST
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Nov 5 (Reuters) - Kinross Gold Corp will find it tough to go ahead with the expansion of its Tasiast gold mine if the gold price does not recover from current weaker levels, Chief Executive Paul Rollinson said on Wednesday.

"If today's gold price were to persist I think we would find it challenging to go ahead because our overriding principle is balance sheet strength," Rollinson said in an interview.

"We have repeatedly said that we would never let a project in any way become too big that it might affect the balance sheet ... Gold price matters and we are watching it closely," he said. (Reporting by Nicole Mordant in Vancouver; Editing by Chris Reese)