Kinross profit drops 58%, Mauritania mine underperforming

Canada’s third-largest gold miner Kinross Gold on Tuesday reported a 58% year-on-year drop in net first-quarter earnings to $105.7-million, or 9c a share, as a result of one-off tax costs. A $110.3-million remeasurement of deferred tax...

Tasiast mine, Mauritania

An openpit mine situated in Mauritania.

Kinross to issue $1bn in debt

Canada’s Kinross Gold on Tuesday said it will raise $1-billion in debt to fund capital projects, which have suffered from inflationary pressures. Last week, CEO Tye Burt said the expansion at Kinross’s big Tasiast mine in Mauritania could...

Kinross to hike Tasiast capital cost by as much as $1bn

Kinross’s Tasiast mine in Mauritania may as much as $1-billion more than the $2.7-billion figure forecast in December, CEO Tye Burt said on Thursday. The company also delayed a feasibility study on the project until next year but said that...

Kinross says Tasiast workers return after short strike

Unionised workers at Kinross Gold's Tasiast mine in Mauritania downed tools briefly on May 19 but are now back at work, the firm said on Friday. “Normal operations at the site have resumed and all unionized workers are back to work following...

Kinross chief acknowledges share price 'frustration', not looking at more deals

Kinross Gold CEO Tye Burt shares investors' frustration with the company's share price performance, he said on Wednesday, but emphasised that lagging market values are an industry-wide problem and not unique to Kinross. And while he faced some...

Gold miners may post 'sensational' Q1 amid record prices

– North American gold producers are expected to report record first-quarter profits over the next few weeks, and may continue to increase dividend payments as gold prices soar to new highs. The yellow metal has repeatedly set new records this...

Tasiast gold mine expansion project, Mauritania

The project proposes to expand the existing 8 000 t/d mine, located about 300 km north of Nouakchott, in north-western Mauritania.

Canada 'destination of choice' for mining deals, E&Y says

Canada has become a destination of choice for dealmaking in the mining sector, and activity will likely increase further in 2011, Ernst & Young said on Wednesday. E&Y, which published its annual dealmaking report for the sector on Wednesday, said...

Kinross Q4 earnings decline, hikes Tasiast numbers

Toronto-based Kinross Gold reported an 11% decline in fourth quarter net income, after production costs rose, the company increased exploration spending and the timing of metal shipments at the end of the year meant some sales were deferred to the...

Company Announcement: Recruits senior resources executive in preparation for start of production at Bibiani

Attached please find a press release on: Noble Mineral Resources (ASX: NMG) has taken another significant key step towards becoming a 150,000 ounce-a-year gold producer with the appointment of senior resources executive Peter Johnston as Chief...

Mining M&A seen strong, increasingly competitive this year

Merger and acquisition (M&A) activity in the North American mining sector will continue strong this year and could exceed the levels seen in 2010, insiders said, amid record prices and surging demand for metals and minerals. Increasing...