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Kinross Gold Corp (KGC)

KGC on New York Consolidated

4.35USD
25 Aug 2016
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$0.12 (+2.84%)
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Latest Key Developments (Source: Significant Developments)

Kinross gets offers for Maricunga, made no decision-CEO
Thursday, 28 Jul 2016 08:51am EDT 

Kinross Gold Corp : Kinross Gold Corp has received unsolicited expressions of interest for its Maricunga gold mine in Chile, says CEO ."Not in a situation where we need to sell assets", but no decision made on sale, says CEO.  Full Article

Kinross Gold Q2 adjusted loss per share $0.01
Wednesday, 27 Jul 2016 05:19pm EDT 

Kinross Gold Corp : Qtrly production was 671,267 gold equivalent ounces (au eq. oz.), compared with 660,898 au eq. oz. in Q2 2015 . Qtrly all-in sustaining cost was $988 per au eq. oz. Sold, compared with $1,011 in Q2 2015. . "Remain on track to be within our full-year guidance range for both production and cost of sales" . Expects to be within its 2016 guidance range for production cost of sales $675 - $735 per au eq. oz. . Kinross is tracking below its 2016 capital expenditure forecast of $755 million and is reviewing timing of its capital spend for second half of 2016. . Due to lack of rainfall at Paracatu during 2015-2016 rainy season, expects to temporarily suspend operation of mine's plant 1 facility in second half of Q3. . Says as a result of suspension at Tasiast mine, phase one expansion's expected timing for commercial production may extend to Q2 2018 . Reports 2016 second-quarter results . Q2 revenue $876.4 million versus $755.2 million . Q2 adjusted loss per share $0.01 . Q2 loss per share $0.02 . Kinross expects to be within its 2016 guidance range for production 2.7 - 2.9 million au eq. Oz . Expects to be within its 2016 guidance range for all-in sustaining cost $890 - $990 per au eq. oz. . Plant 1 at Paracatu will remain suspended until water balance rises sufficiently to allow for production to restart..  Full Article

Kinross temporarily suspends mining at Tasiast mine
Monday, 20 Jun 2016 09:17am EDT 

Kinross Gold Corp : Kinross Gold Corp says company could not continue to fully operate site in a safe and environmentally responsible manner . Says does not expect this issue to affect development of tasiast phase one expansion . Says discussions with government of Mauritania to resolve issue are ongoing . Suspension due to Mauritanian ministry's decision to prohibit employees from working at site due to allegations of invalid work permits .Kinross temporarily suspends mining and processing operations at the Tasiast mine.  Full Article

Kinross Gold says strike at Tasiast Mine has ended
Monday, 13 Jun 2016 09:00am EDT 

Kinross Gold Corp : Strike by unionized employees at its Tasiast mine that began on May 24, 2016 has ended . Strike is not expected to impact company's annual regional guidance and did not affect development of Tasiast phase one expansion . Negotiations with staff delegates on new collective labour agreement and other outstanding items expected to re-commence within ten days .Kinross announces end of strike at Tasiast mine.  Full Article

Kinross Gold reports Q1 loss of $0.01 per share
Tuesday, 10 May 2016 05:00pm EDT 

Kinross Gold Corp : Expects to be within its 2016 forecast guidance for production cost of sales and all-in sustaining cost . Sees all-in sustaining cost guidance range of $890-$990 per au eq. oz. sold in 2016 . Expects to meet its revised 2016 capital expenditure forecast of approximately $755 million . 2016 capital expenditures guidance was increased to $755 million to reflect additional $160 million to be spent on tasiast phase 1 expansion . Kinross Gold Corp says q1 production of 687,463 gold equivalent ounces compared with 629,360 ounces last year . Kinross Gold Corp qtrly production cost of sales $694 per au eq. oz., compared with $709 in q1 2015 . Q1 earnings per share view $-0.01, revenue view $799.0 million -- Thomson Reuters I/B/E/S . Kinross reports 2016 first quarter results . Q1 loss per share $0.01 . Q1 revenue $782.6 million versus $781.4 million .Q1 adjusted earnings per share $0.00.  Full Article

Kinross Gold Corp - Chile regulator shuts down Kinross mine water installation - Reuters News
Sunday, 20 Mar 2016 12:58pm EDT 

Kinross Gold Corp:The Chilean government has shut down the water system attached to the Maricunga mine operated by Canadian company Kinross Gold, citing environmental damages, the SMA regulator said in a statement - RTRS.Maricunga produces 230,000 ounces to 250,000 ounces (6,520 to 7,090 kg) of gold per year.The regulator said on Friday that the company may no longer take water from wells in the Pantanillo area, near the mine, due to environmental harm caused by the operation.The SMA said the mine cannot operate without access to the wells.Local newspaper El Mercurio on Sunday quoted the company as saying that environmental damage in the area had been caused by drought rather than extraction operations.  Full Article

Kinross Gold Corp - Mauritanian firm target of Kinross probe, documents say- The Globe and Mail - Reuters News
Monday, 14 Mar 2016 08:50am EDT 

Kinross Gold Corp:More than two years after U.S. authorities began investigating Kinross Gold Corp. for alleged corruption in Africa, the case remains unresolved, but details of the company’s financial activities are starting to leak out - The Globe and Mail.Internal company documents viewed by The Globe and Mail suggest that one of the targets of the U.S. investigation is a Mauritanian firm that won the bidding for a $50.1-million (U.S.) transport and logistics contract from the Toronto-based gold miner.Kinross awarded the contract to a French company in partnership with the Mauritanian company – which was owned by a former top Mauritanian government official – even though its bid wasn’t the lowest.In its review of the bidders, Kinross concluded that the lowest bidder had a “political” disadvantage, the documents show.It decided instead to award the contract to the French and Mauritanian partnership.This would satisfy the “stated preference” of Mauritania’s government, according to another internal document.A spokesman for Kinross wouldn’t comment on the documents, but he told The Globe that the company doesn’t always choose the lowest bidder, and that many commercial and business factors are considered in its decisions, not simply the price.  Full Article

Kinross Gold Corp announces $250 mln bought deal financing
Wednesday, 24 Feb 2016 04:25pm EST 

Kinross Gold Corp:Announces $250 million bought deal financing.Bought deal public equity offering of 83.4 million common shares of Kinross at a price of US$3.00 per common share.To use about $175 million of net proceeds to repay credit facilities that were utilized to purchase assets from Barrick Gold Corporation.Remainder of the proceeds will be used to repay debt maturing in 2016.  Full Article

Kinross Gold Corp acquires strategic Nevada Assets
Thursday, 12 Nov 2015 07:30am EST 

Kinross Gold Corp:Acquires strategic Nevada assets.Says deal valued at $610 million.Says will fund the transaction with cash on hand and available liquidity.Says deal accretive on a number of key per share metrics including production, cash flow, and mineral reserves and resources.Deal will add about 430,000 gold equivalent ounces in annual average forecast production over the first three years.  Full Article

Kinross Gold Corp raises low end of prior FY 2015 production guidance range
Tuesday, 10 Nov 2015 04:01pm EST 

Kinross Gold Corp:Expects FY 2015 to be within its production guidance range of 2.5-2.6 million Au eq. oz., which was narrowed upward from the previous guidance range of 2.4-2.6 million Au eq. oz.  Full Article

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Exclusive: Kinross to retreat from Chile, puts unit on the block

TORONTO/SANTIAGO Canada's Kinross Gold Corp is looking to retreat from Chile and has put its main assets in that country up for sale, according to people familiar with the process.