UPDATE 1-Kinross results hit by Tasiast impairment charge

Wed Feb 15, 2012 5:25pm EST

TORONTO Feb 15 (Reuters) - Kinross Gold reported a quarterly loss on Wednesday, as its results were hurt by a large goodwill impairment charge related to its Tasiast gold mine in West Africa.

Toronto-based Kinross reported a fourth-quarter net loss of $2.78 billion, or $2.45 a share in the quarter ended Dec. 31. That compared with a year-ago loss of $72.9 million, or 6 cents a share.

Excluding the non-cash goodwill impairment charge of $2.94 billion and other one-time items, the company reported a profit of $196.6 million, or 17 cents a share.

In January, Kinross said its massive Tasiast gold mine in Mauritania faced delays of as much as nine months and it would take a big non-cash writedown on the project.

Kinross acquired the West African gold project through its roughly $7.1 billion takeover of Red Back Mining in 2010.

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