Project Status and Development
The Kiniero gold mine in Guinea is undergoing a major restart after being on care and maintenance since 2014. Canadian mining company Robex Resources is in the final stages of construction, having begun commissioning its processing plant in November 2025 with ore already stockpiled. The company expects to pour its first gold bar by year-end 2025, marking the successful reactivation of this historic mining operation.
Historical Background
Kiniero has a proven production history, having operated continuously from 2002 to 2014 and producing 418,000 ounces of gold during that period. After being placed on care and maintenance in early 2014, the mine was awarded to Sycamore in 2019, which invested $25 million to drill the property to definitive feasibility study standards. Robex acquired the project through a business combination in 2022 and has since worked toward restarting operations with modernized infrastructure.
Technical Specifications
Mining Operations:
- Type: Open pit using conventional mining methods
- Mine life: 9.5 years (with potential for extension)
- Strip ratio: 2.8 waste-to-ore
- Total material to be processed: 27.7 million tonnes
- Average processed grade: 1.09 g/t gold
Processing Infrastructure:
- Processing method: Gravity/CIL (Carbon-in-Leach) plant
- Capacity: Being upgraded to 4.1 million tonnes per annum (Mtpa)
- Future expansion potential: Design flexibility to accommodate 6 Mtpa
- The existing mining infrastructure is being refurbished and expanded with minimal additional infrastructure requirements
Resources and Reserves
Proven Reserves:
- In situ probable reserves: 872,000 oz
- Legacy stockpile reserves: 96,000 oz
- Total reserves: 968,000 oz
Indicated Resources:
- In situ indicated resources: 1,342,000 oz
- Legacy stockpile M&I: 139,000 oz
- Total indicated resources: 1,481,000 oz (including reserves)
Inferred Resources:
- Total inferred resources: 1,090,000 oz
A significant milestone was achieved in December 2023 when Robex reported a 52% increase in inferred resources following completion of the first phase of mineral resource delineation drilling at the Mansounia deposit, which added 896,000 oz of inferred resources.
Production Targets and Economics
Production Outlook:
- Expected total gold production: 851,000 oz over mine life
- Average annual production (first 3 years): 105,000 oz per year
- Average annual production (life of mine): 90,000 oz per year
- Initial target for 2026: 155,000 oz
- Long-term average: 139,000 oz per year over nine years
Recovery Rates by Material Type:
- Oxides: 92%
- Transitional: 89%
- Laterite: 92%
- Fresh rock: 86%
- Legacy stockpiles: 92%
Financial Metrics:
- All-In Sustaining Cost (AISC): $980/oz
- Initial capital cost estimate: $160 million
- Actual total construction cost: $243 million
- Costs already spent as of October 2023: $50 million
- Current status: Fully funded and on budget
Ongoing Optimization and Expansion
Robex is currently working on an optimized Feasibility Study with three key objectives:
- Resource Integration: Incorporate the Mansounia deposit's resource modeling across all deposits and update reserves and resources for the entire project
- Processing Enhancement: Update capital expenditure requirements to accommodate a higher oxide mix at 4.1 Mtpa capacity
- Future Flexibility: Add design flexibility to enable potential future expansion to 6 Mtpa
The company has commenced an extensive drilling program targeting numerous identified deposits to increase the resource base and extend mine life, primarily by increasing drilling density at depth and along known lateral extensions.
Strategic Context
The Kiniero project represents Robex's second producing asset, complementing its existing Nampala gold mine in Mali, which produced 34,401 ounces between January and September 2025. However, the project's future direction may be influenced by Robex's planned merger with Australia's Predictive Discovery, expected to close by December 2025 or early 2026. Predictive Discovery is developing the Bankan gold project in Guinea, which targets average annual production of 250,000 oz over 12+ years. As Robex is expected to be incorporated into Predictive, the merger's impact on Kiniero's development trajectory remains to be determined.
Conclusion
The Kiniero gold mine restart represents a significant value-creation opportunity, bringing back into production a proven ore body with established infrastructure. With modern processing facilities, expanded resources, and strong economic metrics at sub-$1,000/oz AISC, the project is well-positioned to deliver consistent gold production for nearly a decade, with potential for further mine life extensions through ongoing exploration success.