Q2 2025 Kinross Gold Corp Earnings Call Transcript
Key Points
- Kinross Gold Corp (KGC) delivered strong production in Q2 with 513,000 ounces at a cost of sales of $1,074 per ounce, resulting in record operating margins.
- The company achieved record free cash flow of almost $650 million in Q2, contributing to a strong financial position.
- Paracatu and Tasiast mines accounted for more than half of the production, with Paracatu being the highest producer, generating substantial cash flow.
- Kinross Gold Corp (KGC) is on track to meet its full-year guidance, with a solid production profile and financial discipline.
- The company continues to focus on sustainability, making progress in water management initiatives and publishing a comprehensive annual sustainability report.
- Cost of sales increased from Q1 due to higher royalties and sustaining capital expenditures.
- La Coipa faced higher costs in Q2 due to excess groundwater inflows, impacting production and leading to higher costs.
- Operating costs are expected to increase in the second half of the year due to planned mine sequencing and inflation.
- The company anticipates higher power costs in the second half at Paracatu and potentially in Alaska, affecting overall costs.
- Kinross Gold Corp (KGC) expects slightly lower production in the second half at Fort Knox and other US operations, impacting cost efficiency.
Thank you for standing by. My name is Tina and I will be your conference operator today. At this time, I would like to welcome everyone to the Kinross Gold's second-quarter 2025 results conference call and webcast.
(Operator Instructions)
It is now my pleasure to turn the call over to David Shaver, Senior Vice President. Please go ahead.
Thank you and good morning. In the room with us today on the call, we have Paul Rollinson, CEO; and from Kiross' senior leadership team, Andrea Freeborough; Claude Schimper; Will Dunford; and Geoff Gold.
For a complete discussion of the risks and uncertainties which may lead to actual results differing from estimates contained in our forward-looking information, please refer to page 3 of this presentation; our news release dated July 30, 2025; the MD&A for the period ended June 30, 2025; and our most recently filed AIS, all of which are available on our website.
I will now turn the call over
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