Kinross Gold Corporation

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Kinross Gold Corporation
Kinrosslogo.JPG
Founded 1993
Headquarters Toronto, Canada
Key People Tye W. Burt, Chief Executive Officer
Products Gold mining and exploration
Website www.kinross.com
Releases Company News

Kinross Gold Corporation is based in Toronto, Canada, and together with its subsidiaries, engages in the gold mining and related activities. The company also involves in the exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ores, and reclamation of gold mining properties. Its gold production and exploration activities are carried out principally in the United States, Brazil, Chile, Ecuador, and the Russian Federation.

As of December 31, 2009, its proven and probable mineral reserves were 51.0 million ounces of gold, 102.9 million ounces of silver, and 2.9 billion pounds of copper.[1]

Kinross Gold Corporation is a member of the World Gold Council.[2]

History

On May 31, Kinross Gold Corporation entered the global gold mining business. Founded by Robert M. Buchan, Kinross was formed by the amalgamation of CMP Resources Ltd., Plexus Resources and 1021105 Ontario Corporation. On June 1, 1993, Kinross was listed on the TSX and NASDAQ.[3]

Products and Services

Kinross Gold Corporation (Kinross) is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. Kinross’ gold production and exploration activities are carried out principally in the United States, Brazil, Chile, Ecuador and the Russian Federation. Gold is produced in the form of dore, which is shipped to refineries for final processing. Kinross also produces and sells silver. It operates under 11 segments: Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Crixas, Maricunga, La Coipa and Porcupine Joint Venture. On January 7, 2009, Kinross completed its acquisition of 100% of Minera Santa Rosa SCM and 60% interest in Teck Cominco Limited. In July 2010, Kinross Gold Corporation acquired Underworld Resources Inc.

The Company entered into an agreement to acquire Dvoinoye deposit and the Vodorazdelnaya property, both located approximately 90 kilometer north of Kinross. Kinross focuses on developing Dvoinoye as an underground mine and process ore from Dvoinoye at the existing Kupol mill. The Vodorazdelnaya property encompasses approximately 922 square kilometers and includes an exploration and mining license.

Kinross completed a pre-feasibility study on the Lobo-Marte gold project confirming the viability of a 47,000 ton per day open pit heap leach operation incorporating a Sulphidization, Acidification, Recycling and Thickening (SART) facility for cyanide recovery. Kinross has undertaken a 18,000-meter drilling campaign at Fruta del Norte (FDN) in Ecuador. On February 17, 2010, Kinross entered into an agreement with Barrick Gold Corporation (Barrick) to sell one-half of its 50% interest in the Cerro Casale project in Chile to Barrick.[4]

Key People

References

  1. Kinross Gold Corporation Business Summary. Yahoo Finance.
  2. World Gold Council Members List. World Gold Council.
  3. Our History. Kinross Gold Corporation.
  4. Kinross Gold Corp Company Description. Reuters.