Kinross Gold (NYSE:KGC)
Q1 2021 Earnings Call
May 12, 2021, 7:45 a.m. ET
- Prepared Remarks
- Questions and Answers
- Call Participants
Hello and thank you for standing by, and welcome to Kinross Gold Corporation first-quarter results conference call and webcast. [Operator instructions] Please be advised that today’s call is being recorded. I would now like to turn the conference over to your speaker today, Tom Elliott, senior vice president, investor relations. Please go ahead.
Tom Elliott — Senior Vice President, Investor Relations
Thank you and good morning. With us today, we have Paul Rollinson, president and CEO; and the Kinross senior leadership team: Andrea Freeborough, Paul Tomory and Geoff Gold. Before we begin, I’d like to bring your attention the fact that we will be making forward-looking statements during this presentation. For a complete discussion of the risks, uncertainties, and assumptions, which may lead to actual results and performance being different from estimates contained in our forward-looking information, please refer to Page 2 of this presentation, our news release dated May 11, 2021, the MD&A for the period ended March 31, 2021, and our most recently filed AIF, all of which are available on our website.
I’ll now turn the call over to Paul.
Paul Rollinson — President and Chief Executive Officer
Thanks, Tom, and thank you all for joining us today. While the global environment remains challenging, we are pleased to report that our business continues to perform well against our expectations. I’ll elaborate on this momentarily but first, I want to provide a quick update on how we are managing through the impacts of the pandemic. The safety and well-being of our people is our top priority, and we are maintaining many of our pandemic-related protocols in order to protect our employees and communities.
As a result of this work and the continued support from our local governments, all of our mines remain operational, and our development projects remain on schedule. I’m also pleased to report that we are cautiously optimistic and see some signs of a return to normal starting to take form. Before turning the call over to Andrea for a financial review, Paul for an operating review, and Geoff, for an update on Mauritanian government relations, I will comment briefly on Q1 performance, our outlook, and our commitment to continued leadership in ESG. Overall, we are pleased with our start to the year.
During the first quarter, our three largest mines, Paracatu, Kupol and Tasiast, once again represented approximately 60% of our production and delivered the lowest cost in the portfolio. As always, there were some puts and takes throughout the portfolio but the consolidated production is tracking well against our plans. As indicated previously, we expect production to increase throughout the year with the fourth quarter being the…