Kinross Gold Corp T.K

Kinross to suspend Russian operations GlobeNewswireMar 2, 20

[stockstarker]

Kinross to suspend Russian operations

GlobeNewswireMar 2, 2022 6:09 PM EST

TORONTO, March 02, 2022 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” and the “Company”) is deeply concerned about the loss of life and destruction in Ukraine and wishes to express its sympathy and support for the people who are suffering because of this tragic situation.

The Company today is announcing a donation of $1,000,000 to the Canadian Red Cross Ukraine Humanitarian Crisis Appeal to assist those people most in need. Kinross is hopeful for a peaceful and diplomatic solution in Ukraine.

The Company is suspending all activities at its Udinsk development project. The Company is also in the process of suspending operations at its Kupol mine, with the focus on the safety and well-being of its more than 2,000 employees and in recognition of its obligations to manage and mitigate the mine's environmental impact on an ongoing basis.

The Company intends to adhere to all sanctions and legal restrictions that have, or will be, announced by relevant governments.

About Kinross Gold Corporation

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile, Ghana and Canada. Our focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).

Media Contact
Louie Diaz
Vice-President, Corporate Communications
phone: [phone]
[e-mail]

Investor Relations Contact
Chris Lichtenheldt
Vice-President, Investor Relations
phone: [phone]
[e-mail]

[tootall123]

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[diabase1]

Now Kinross can concentrate on the Dixie project. How many ozs does it have? 10M?

[Bangor]

As a shareholder I applaud the de ision to stop production in Russia. Ukraine needs all the help we can give them. We have the Dixie project in red lake which years from now will be the biggest gold mine in Canada. Bravo kinross management.

[diabase1]

I believe Kinross's Russian operations had roughly 4.1M ounces of gold reserves. By adding Dixie, they will have at least 6-8 Moz starting off, with more to add thru exploration. And they will operate in Canada. A very forward looking company!!

[Krishak5]

Bravo indeed, it took a lot of balls to make that sacrtifice. Kinross is setting a gret example to the gold industry. Hopefully others will follow Kinross's sterling example to the mining industry and the world. I will be buying more shares of K tomorrow in recognition and gratitude for managements action in support of Ukraine. 

[Dominion]

You do that loser. For the rest of you smart people, stay away from anything Russian. Most untrusty nation. First one out the door is the smartest. 3 dollars is coming fast.

[NewfNewf]

10 to 1 reverse split when its between 1-2 dollars. Nothing to be that excited about here.

[Ridgeback]

TD Opinion Event Kinross announced that it is suspending its operations in Russia. We have elected to remove Kinross' Russian assets (the Kupol mine and the Udinsk development project) from our forecasts and our net asset value. Impact: NEGATIVE Given increasingly harsh sanctions against Russia over its invasion of Ukraine, in our view, it had become more and more difficult for Kinross to

[tootall123]

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