Talks between the Ecuadorian government and Kinross Gold have stalled over the country's largest mine, Fruta del Norte.
Kinross Gold Corp Mining News
Kinross Gold (TSX:K) lost $2.78 billion in the fourth quarter, having been forced to writedown the value of its Tasiast project in Africa.
COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is pleased to announce it has completed $500,000 of expenditure requirements under the terms of an Exploration Agreement with Kinross Gold Corporation (TSX:K)(NYSE:KGC), one of the world's leading senior gold producers.
Kinross Gold was taking more punishment on Wednesday morning after its stock was downgraded and US securities litigation firm Holzer Holzer & Fistel announced it is investigating potential violations of federal securities laws by the miner over gold grades at its Tasiast property. Then at 13:30 the stock popped into positive territory after a single trade worth $72 million went through.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) today provided its preliminary operating results for the full-year 2011 and outlook for 2012, and announced a project optimization process to improve capital allocation, project sequencing, and investment returns.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) announced today that its previously disclosed US$200 million non-recourse loan from a group of international financial institutions to finance the increase in Kinross' ownership of the Kupol mine to 100% has been funded.
Kinross reaches agreement in principle with Ecuadorian government on Fruta del Norte exploitation contract
Kinross Gold Corporation (TSX:K.TO - News)(NYSE: KGC - News) announced today it has reached a non-binding agreement in principle with the government of Ecuador regarding key fiscal and legal parameters for the exploitation of the Fruta del Norte (FDN) deposit in Ecuador's Zamora Chinchipe province.
Shares in Kinross Gold leapt 4.5% on Wednesday after the company published a positive second-quarter earnings report. Toronto-based Kinross said it had a record quarter for gold production due to additional product from its Kupol gold and silver mine in Russia, of which the company acquired 100% in April, and from West Africa operations that were acquired last September. Kinross poured 676,245 gold ounces of gold in Q2, a 26% increase over the same period last year.
Kingsgate Consolidated Ltd's 70% owned listed subsidiary Laguna Resources NL announced it has entered into a binding MOU to acquire the Esperanza and Chimberos mining leases from Kinross Gold Corporation.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) said today that a brief work stoppage at its Tasiast gold mine in Mauritania on May 19th had ended. Normal operations at the site have resumed and all unionized workers are back to work following the resolution of certain issues related to working conditions and pay. Constructive dialogue with the union is continuing with the aim of improving working conditions to Kinross standards, and to negotiating a collective agreement with unionized employees. Production at Tasiast was not affected by the work stoppage, which lasted less than a day. In the first quarter of 2011 Tasiast produced 51,321 gold equivalent ounces.
A robust gold price, new West African production, and strong performance from mining operations contributed to a 42% increase in revenue and an 81% increase in adjusted net earnings for Kinross Gold during the first quarter. Meanwhile, Kinross has increased 2011 full year-production guidance to 2.67 million - 2.7 million gold equivalent ounces as a result of increasing the company's Kupol interest to 100%.
Kinross Gold, recently cashed up from its stake sale in Harry Winston Diamond Corp., has now agreed to pay $350 million for full ownership of the Kupol mine in Russia. The mine would account for about 17% of Kinross' gold equivalent production in 2011. Reuters reports: Gold miner Kinross Gold Corp. said it signed an agreement to buy the stake it does not already own in Chukotka Mining and Geological Co for about $350 million, giving it full ownership of the Russian mining company.
Canada's Kinross Gold (K.TO: Quote) will invest $1.1 billion in Ecuador's Fruta del Norte gold project until 2016 and could begin digging an underground mine next year, a company executive said on Wednesday.
Ecuador expects companies including Canada's Kinross Gold to invest $7 billion in gold and copper projects in the next seven years, as the OPEC member tries to diversify its economy by encouraging mining. Natural Resources Minister Wilson Pastor said on Tuesday five projects will be signed in the next few months.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) announced today that it has sold its approximate 8.5% equity interest in Harry Winston Diamond Corporation ("Harry Winston"), consisting of approximately 7.1 million Harry Winston common shares, on an underwritten block trade basis, for gross proceeds of CDN$100 million. On August 25, 2010, Kinross announced that it had completed the sale of its former 22.5% interest in the partnership holding Harry Winston's 40% interest in the Diavik Diamond Mines joint venture to Harry Winston for US$50 million cash, 7.1 million Harry Winston common shares, and a note payable in the amount of US$70 million maturing 12 months from the date of the sale.
Metso will supply a complete ball mill and related equipment and services to Kinross Gold Corporation for its Morro do Ouro Mine in Paracatu, located 230 km south from Brazil’s capital Brasília. The delivery will […]
MEIOnline reports that Metso will supply a complete ball mill and related equipment and services to Kinross Gold Corporation for its Morro do Ouro Mine in Paracatu, located 230 km south from Brazil's capital BrasÃlia. […]