Welcome to our dedicated page for Kinross Gold Corporation news (Ticker: KGC), a resource for investors and traders seeking the latest updates and insights on Kinross Gold Corporation stock.
Kinross Gold Corporation (NYSE: KGC; TSX: K) is a leading gold mining company headquartered in Toronto, Canada. Established in 1993, Kinross has grown to become one of the world's largest gold producers, boasting approximately 2.2 million gold equivalent ounces in production as of 2023. The company's global operations span the Americas and West Africa, with active mines in the U.S., Brazil, Chile, Ghana, and Mauritania.
Kinross is known for its commitment to operational excellence, financial discipline, and balance sheet strength. It has historically expanded its portfolio and production capacity through strategic acquisitions, such as the purchase of the Great Bear project in Canada in 2022. This project has the potential to produce over 500,000 ounces of gold annually for at least a decade if developed.
Despite selling its Russian operations in 2022 in response to geopolitical developments, Kinross remains a significant player in the gold mining industry. The company had estimated gold reserves of around 42.8 million ounces at the end of 2023, ensuring a steady production pipeline for the next decade.
Kinross is committed to responsible mining and has been consistently named to the Dow Jones Sustainability World Index, reflecting its adherence to rigorous environmental, social, and governance (ESG) standards. The company has made significant strides in its climate strategy, including the development of a 34MW photovoltaic solar facility at its Tasiast mine in Mauritania.
Financially, Kinross reported revenues of US$3.8 billion in 2013 and continues to maintain strong liquidity and financial health, with ample cash reserves and robust credit facilities. The company’s shares are traded on the Toronto Stock Exchange (TSX: K) and the New York Stock Exchange (NYSE: KGC).
For the latest updates on Kinross Gold Corporation, their projects, and financial performance, visit their official website or contact their corporate communications office.
Kinross Gold Corporation (KGC) has provided updates on its Great Bear project in Ontario, Manh Choh project in Alaska, and Curlew exploration project in Washington State. Significant drilling progress has been made, with Great Bear on track to declare an initial resource by year-end 2022. The feasibility study for Manh Choh is nearing completion, with initial production expected in Q4 2024. Curlew's exploration is also promising, with high-grade results and new vein discoveries reported. Kinross remains focused on community engagement and environmental studies to support their projects.
Kinross Gold Corporation (NYSE:KGC) has announced a virtual review session on June 28, 2022, to discuss key projects including the Great Bear project in Ontario, Manh Choh project in Alaska, and the Curlew exploration project in Washington State. The session will begin at 9 a.m. EDT and will include presentations and a Q&A segment, accessible via www.kinross.com. Kinross, a senior gold mining firm with operations across several countries, emphasizes responsible mining and operational excellence.
On June 15, 2022, Kinross Gold Corporation (KGC) announced the successful sale of its Russian assets to Highland Gold Mining for $340 million. The transaction concluded with Kinross receiving $300 million in cash, alongside a deferred $40 million payment due in one year. Originally valued at $680 million, the sale price was reduced following a review by Russian authorities. With this divestment, Kinross has eliminated its Russian interests and liabilities, focusing on its tier one assets in the Americas and the Great Bear project in Canada, marking a significant portfolio rebalancing.
On May 12, 2022, Kinross Gold Corporation (KGC) reported the results of its Annual Meeting of Shareholders held on May 11, 2022. All nominees listed in the Management Information Circular were elected as directors with significant support: Ian Atkinson received 97.68% of votes in favor, while Catherine E. McLeod-Seltzer received 88.94%. The appointment of auditors was also approved with 97.10% support. Additionally, the 'Say on Pay' resolution on executive compensation saw 90.61% approval. Detailed voting results have been filed on SEDAR.
Kinross Gold Corporation has announced its first-quarter 2022 results, achieving record production at Tasiast with significant operational improvements. The company maintained its guidance for pro-forma portfolio performance. Key highlights include strong gold production figures and favorable cost control measures. The company remains focused on maximizing shareholder value while navigating market challenges.
Kinross Gold Corporation (KGC) announced a dividend of US$0.03 per common share for Q1 2022. This dividend will be payable on June 16, 2022, to shareholders recorded as of June 2, 2022. It qualifies as an eligible dividend for Canadian tax, while non-resident investors will face Canadian withholding taxes. Kinross maintains operations in several countries, emphasizing responsible mining and operational excellence.
Kinross Gold Corporation announced the sale of its 90% interest in the Chirano mine in Ghana to Asante Gold Corporation for $225 million. This includes $115 million in cash and $50 million in Asante shares, subject to ownership limits. A deferred payment of $60 million will be made over two years. The transaction, expected to close by May 31, 2022, leaves Kinross without any assets in Ghana. The company plans to update its 2022 guidance related to asset sales in Ghana and Russia in upcoming financial disclosures.
Kinross Gold Corporation (KGC) announced it will release its Q1 2022 financial results on May 10, 2022, after market close. A conference call is scheduled for May 11, 2022, at 7:45 a.m. EDT to discuss the results, followed by a Q&A session. The 2022 Annual Meeting of Shareholders will also occur on May 11, 2022, at 10:00 a.m. EDT via a virtual format, ensuring safety amidst the COVID-19 pandemic. Meeting materials are available online, and shareholders can join the live audio webcast.
Kinross Gold Corporation (KGC) has announced its plans for the Great Bear project in Red Lake, Ontario, following the acquisition of Great Bear Resources in February 2022. The company aims to declare an initial inferred mineral resource by year-end 2022 and start a pre-feasibility study in 2023. To achieve this, Kinross will conduct 200,000 meters of drilling, focusing on the LP Fault zone, with a budget of approximately US$60 million for project activities in 2022. Recent assay results from 60 drill holes confirm significant gold mineralization, enhancing the project's potential.
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