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...

Kinross, Ecuador bump heads over mine investment deal

Canada’s Kinross Gold is squaring up for tough negotiations with the Ecuador government, as the company seeks to get a sweeter tax and royalties deal for the mine it hopes to build there than the one it initially agreed to in December. CEO Tye...

Kinross reports $2.8bn Q4 loss on asset write downs, lifts dividend 33%

It might have fallen out of investors’ favour earlier this year after announcing a big asset impairment, but Kinross has heeded their call to boost dividends, granting shareholders a one-third dividend increase to $0.08 a share. The company...

Kinross takes a pounding on likely project delays, potential Tasiast write down

Kinross Gold’s shares plunged nearly 20% on Tuesday, after the company said it was embarking on a six- to nine-month review of the timing, costs and mining methods at its three largest projects. Canada’s third-biggest gold producer also said...

Kinross reaches accord with Ecuador, says FDN to cost up to 30% more

Toronto-based Kinross Gold has reached an agreement in principle with the Ecuador government around tax and legal parameters to build its Fruta del Norte (FDN) project in the South American nation, it said on Monday. The nonbinding accord gives...

Kinross adjusted Q3 profit up 134%, revenue tops $1bn

Kinross Gold, which operates mines in North and South America, Africa and Russia, made an adjusted profit of $273-million for the quarter ended September, which was 134% higher than the same period in 2010, the company said on Wednesday. Revenue...

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...

Kinross earnings up 40% as prices, output rise

Canada's Kinross Gold earned $255,2-million in the first quarter, an increase of 40% compared with a year ago, after gold prices surged and the company increased production levels. Excluding once-off items, adjusted net earnings rose 81% year on...

Kinross gets preapproval for increased stake in Kupol mine

Russia has given preapproval for Kinross Gold to increase its ownership in the Kupol gold mine, in the Russian Federation's Far East Region, to 100%, the Toronto-based firm said on Friday. Kinross' local subsidiary applied for and received the...