Kinross Gold.html |
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| Type | Public (TSX: K NYSE: KGC) |
|---|---|
| Founded | 1993 |
| Headquarters | Toronto,  Canada |
| Key people | Tye Burt, President and CEO |
| Industry | Mining |
| Products | Gold |
| Revenue | $1,093 million (2007) |
| Employees | 4,000 (2008)1 |
| Website | www.kinross.com |
Kinross Gold Corporation (TSX: K, NYSE: KGC) is a Canadian-based gold mining company with eight mines in the United States, Brazil, Russia and Chile, employing approximately 5,000 people worldwide. It is the third-largest gold mining company in North America by reserves and seventh in the world in production. 2
Kinross’ core purpose is to lead the world in generating value through mining. With the best growth pipeline among major gold producers, Kinross expects annual production to increase from 1.6 million ounces in 2007 to 2.4 - 2.5 million ounces in 2009. Kinross recorded net earnings of $334 million in 2007 and produced 1.6 million gold equivalent ounces. [1]
Kinross was the top-performing senior gold equity on the Toronto Stock Exchange [2] and New York Stock Exchange for two consecutive years in 2006 and 2007. [3]
Kinross’ strategic focus is to maximize net asset value and cash flow per share through a four-point plan built on: generating growth from core operations; expanding capacity for the future; attracting and retaining the best people in the industry; and driving new opportunities through exploration and acquisition.
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Corporate Social Responsibility
Kinross is strongly committed to responsible mining. The company has articulated Ten Guiding Principles for Corporate Responsibility [4] to guide its global activities and completed its first company-wide Corporate Social Responsibility report in May, 2008 [5]. Kinross also achieved an A- ranking in Maclean's magazine’s annual assessment of socially responsible companies, the highest ranking for a Canadian mining company, and was selected as a constituent of the Jantzi Social Index. [6]. In January 2008, Kinross established the Canada-Brazil Resource Network in cooperation with the University of Guelph, creating a unique model for an international partnership in sustainability between the private sector and advanced educational institutions. [7]
Recent History
In February, 2007, Kinross completed its acquisition of Bema Gold Corp. for approximately $3.5 billion. [8]
In December, 2007, Kinross completed an asset swap with Goldcorp, selling the Porcupine Joint Venture and Musselwhite properties in Ontario in exchange for 100 per cent ownership of La Coipa in Chile and $200 million in cash, strengthening the company’s presence in the key Maricunga region in Chile. [9]
In September, 2008, Kinross announced that it was successful in its friendly bid to acquire Aurelian Resources, adding one of the world’s most exciting gold discoveries in recent years – the 13.7 million ounce Fruta del Norte property in Ecuador – to the Kinross growth pipeline. [10]
See also
References
- ^ "Company Profile for Kinross Gold Corp (KGC)". Retrieved on 2008-10-08.
- ^ Kinross Gold Annual Report
External links
- Kinross Gold web site
- SEDAR company profile
- Google Finance company profile
- Kinross Corporate Social Responsibility
- Kinross CSR report
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