TORONTO Feb 13 Canada's Kinross Gold Corp
reported a quarterly loss on Wednesday as an impairment
charge related primarily to its Tasiast project in Mauritania
outweighed a boost in revenue.
The gold miner took a $3.21 billion after-tax, non-cash
impairment charge, of which Tasiast was responsible for $3.09
billion. The remainder was attributed to the Chirano project in
Ghana, which Kinross also acquired as part of its 2010 takeover
of Red Back Mining.
Kinross reported a loss of $2.99 billion, or $2.62 cents a
share, in the quarter ended Dec 31. That compared with a
year-ago loss of $2.79 billion, or $2.45.
Excluding one-time items, the company reported a profit of
$276.5 million, or 24 cents in the quarter, compared with $187.2
million, or 16 cents, in the year-ago period.
Quarterly revenue rose 29 percent to $1.19 billion.