Commodities
Kingsgate Consolidated Boosts Silver and Gold Reserves at Nueva Esperanza
Kingsgate Consolidated has announced a significant boost in silver and gold ore reserves at its Nueva Esperanza project in Chile. The updated Mineral Resources and Ore Reserves report reveals a 31% increase in silver ore reserves to 51.9 million ounces, with a 37% surge in gold ore reserves to 0.26 million ounces. This growth is attributed to elevated precious metal price forecasts.
The reserve life at Nueva Esperanza now exceeds 12 years, assuming a 2 Mtpa processing rate. The update incorporates raised precious metal price forecasts and decreased royalty considerations following the 2026 Anglo American royalty purchase. The Mineral Resources and Ore Reserves statement complies with ASX Listing Rules Chapter 5 and the JORC Code.