Kinross Gold Corp

Mining

Kinross Gold Corporation is a Canadian mining enterprise that has operations in Chile, US, Brazil, Ghana, Russia, etc.

Founded in 1993, the Toronto-based firm engages in the exploration, development and acquisition of gold-bearing properties. It also undertakes extraction and processing of gold-containing ores and reclamation of the related assets.

The mining firm’s three core regions include Russia, the Americas and West Africa.

The Americas: It owns and operates five mines in the region. The company mines are located in Fort Knox, Round Mountain, Bald Mountain and Paracatu. It reportedly accounts for about 58 per cent of the total production.

West Africa: Has two open-pit operating mines here - Tasiast, located in Mauritania, and Chirano in Ghana. The West African mines produce 22 per cent of the total capacity.

Russia: The company operates an underground mining facility in Kupol and Dvoinoye sites in Russia. This portfolio accounts for nearly 20 per cent of the production.

The company focuses on the expansion of existing units and the exploration of high-quality mineral resources.

The mining firm claims to follow a sustainable approach and contribute to achieving Sustainable Development Goals, including adherence to ESG standards. It also aims to support inclusion and diversity, fair labor rights, competitive wage rates and providing a healthy and safe workplace.

In 2019, the company announced that its subsidiary, Tasiast Mauritanie Limited S.A., signed an eight-year debt financing agreement worth C$ 300 million with the IFC, Export Development Canada and two commercial banks.

The gold-mining company aims to explore near-mine target areas in the North of Bald mountain in 2021.

In January 2020, the firm acquired the Chulbatkan license in Russia, spread in 450 square kilometres. Chulbatkan is located in Khabarovsk and is said to be the fourth-largest gold producing regions in Russia.

In September 2020, the company acquired a 70 per cent stake in the Manh Choh project in Alaska, an open-pit, low-cost mine.

The gold-mining firm announced its association with the La Coipa Restart project in the Atacama region, Chile, in 2020, with an expected production capacity of 690 gold-equivalent ounces from 2022 to 2024.

The company aims to achieve a 2.9 million gold equivalent ounces production capacity by 2023.

Kinross’ financial reports, stock information etc is posted on its official website.