Sept 18 (Reuters) - Kinross Gold Corp K.TO :
* Kinross Gold says to proceed with Tasiast Phase Two and Round Mountain Phase W expansion projects
* Kinross - Expect Tasiast Phase Two to increase mill capacity to 30,000 tonnes/day to produce average of about 812,000 gold ounces/year for first 5 yrs
* Kinross - Tasiast Phase Two expected to generate free cash flow of $2.2 billion over life of mine; commercial production expected to begin Q3 2020
* Kinross - Expect initial construction for phase two to begin early 2018; expects initial plant, infrastructure capital costs of about $590 million
* Kinross Gold - Round Mountain Phase W expected to extend mining by 5 years, increase life-of-mine production by 1.5 million au oz. at one of co's mines
* Kinross - Phase W expected to generate incremental cash flow of $265 million, sustain annual production at average of about 341,000 au oz. Through 2024
* Kinross Gold - expects to finance Tasiast Phase Two, Round Mountain Phase W projects with balance sheet, existing liquidity, operating cash flows