sector: Basic Materials ·
industry: Precious Metals & Minerals ·
As of
2:47am IST
20.52CAD
Kinross Gold Corporation (Kinross) is engaged in the mining and processing of gold and as a by-product, silver ore, and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation and worldwide. The principal products of Kinross are gold and silver produced in the form of dore that is shipped to refineries for final processing. Kinross’ share of proven and probable mineral reserves, as of December 31, 2008, was 45.6 million ounces of gold and 105.8 million ounces of silver. On July 31, 2008, Kinross completed the sale of its 40% interest in the Hammond Reef project to Brett Resources Inc. On September 30, 2008, it acquired Aurelian Resources Inc. On December 16, 2008, Kinross completed the acquisition of a 40% interest in Minera Santa Rose SCM (Minera) from certain subsidiaries of Anglo American Plc, and on January 8, 2009, Kinross acquired the remaining 60% interest in Minera from a subsidiary of Teck Cominco Limited.
BRIEF: For the nine months ended 30 September 2009, Kinross Gold Corporation's revenues increased 51% to $1.71B. Net income decreased 54% to $74.3M. Revenues reflect higher metal sales due to higher gold prices and an increase in ounces sold. Net income was offset by an increase in cost of sales, increased accretion & reclamation expenses, the presence of other operating costs vs. income and higher general & administration expenses.
Kinross Gold Corporation
52nd Floor
40 King Street West
Toronto ON M5H 3Y2
P: +1416.3655123
F: +1416.3636622