Kinross May Boost Gold Production 57% Within 5 Years

Kinross Gold Corp., Canada’s third- largest gold producer may increase output by about 57 percent in the next five years if it proceeds with projects under evaluation in South America. Kinross Gold’s CEO, Tye Burt stated recently that the gold industry “may be in the midst of a perfect storm” because demand for the precious metal is outpacing new discoveries. Gold climbed to an 18-month high of $1,025.80 an ounce on Sept. 17 in New York. The price reached a record of $1,033.90 in March 2008.

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