Kinross Gold
Encyclopedia
Kinross Gold Corporation is a Canadian-based gold mining company with a gold production guidance of 4.5 to 4.9 million gold ounces by 2015. Kinross owns mines and projects in Canada, the United States, Brazil, Chile, Ecuador, Russia, Ghana and Mauritania, employing approximately 7,500 people worldwide. Kinross production guidances for 2011 are 2.6-2.7 million ounces of gold and 11.8-12.2 million ounces of silver.
magazine's annual assessment of socially responsible companies, the highest ranking of any Canadian mining company, and was selected as a constituent of the Jantzi Social Index
. For Kinross' cooperation with an environmental group in Washington state, and for five out of eight mines being in compliance with the International Cyanide Management Code
, Kinross was recognized as one of Canada's Top 50 Most Responsible Corporations by Maclean's magazine and Jantzi Research in 2009. In October 2008, Kinross was named one of Greater Toronto's Top Employers
by Mediacorp Canada Inc., which was announced by the Toronto Star
newspaper. In 2011, Kinross was named to the Dow Jones Sustainability World Index (DJSI) and to the Dow Jones Sustainability North America Index for the second consecutive year.
North America
- Fort Knox mine - Kinross has a 100% stake in the open pitOpen-pit miningOpen-pit mining or opencast mining refers to a method of extracting rock or minerals from the earth by their removal from an open pit or borrow....
mine in Alaska, which it received following a merger with Amax Gold. - Kettle River mill and Buckhorn mine - Kinross operates the Buckhorn mine and Kettle River mill in the US State of Washington.
- Round Mountain Gold Mine - In 2003 Kinross merged with Echo Bay Mines which gave them a 50% share of the Round Mountain open pit. The remainder of the property is owned by Smokey Valley Common Operation, which is linked to Barrick GoldBarrick GoldBarrick Gold Corporation is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units located in Australia, Africa, North America and South America...
.
South America
- Paracatu mine - Kinross received the original stake in Brazilian mine when they merged with TVXTVXTVX is a three letter acronym and can mean:*TVX is an acronym for Television X, a UK adult channel based in Jersey which broadcasts on Sky and digital channels and on the web....
, and purchased the remainder from Rio TintoRio Tinto GroupThe Rio Tinto Group is a diversified, British-Australian, multinational mining and resources group with headquarters in London and Melbourne. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto river, in Huelva, Spain from the...
in 2004. - Crixás mine - The Kinross-TVX merger also resulted in Kinross receiving 50% of the Crixás mine, the remaining 50% is owned by AngloGold AshantiAngloGold AshantiAngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation.AngloGold Ashanti Limited is now a global gold producer with 21 operations on four continents...
, who operates the mine. - Maricunga mine - The first 50% stake in the Chilean open pit mine was acquired in 1998 through a merger, the remainder was secured upon purchase of Bema Gold CorporationBema GoldBema Gold Corporation was a Vancouver, British Columbia based intermediate gold producer with operating mines and development projects in Russia, South Africa, Chile and Canada. Bema operated the Julietta Mine in Russia, the Petrex Mines in South Africa, was a 50% owner of the Refugio MIne in Chile...
. - La Coia mine - The TVX merger resulted in Kinross' stake in the Lo Coipa open pit mine, the remainder was purchased by GoldcorpGoldcorpGoldcorp Inc. is a gold producer headquartered in Vancouver, British Columbia, Canada. Goldcorp has 16 operations and development projects in 6 countries across the Americas....
in 2007.
Asia
- Kupol mine - The Bema Gold purchase gave Kinross 75% of the Kupol project, and purchased the remainder through a subsidairy company.
Africa
- Tasiast mine - In 2010 Kinross purchased Red Back MiningRed Back MiningRed Back Mining Inc. is an unhedged Vancouver based mineral resource company. Its focus is West Africa where it operates the Chirano Gold Project in Ghana and the Tasiast Gold Mine in Mauritania....
, which gave them 100% ownership of the Tasiast gold mine. - Chirano mine - The Red Back Mining gave Kinross controling interest in the Chirano mine, with 10% being retained by the Government of Ghana.
Corporate responsibility
Kinross claims a strong committment to responsible mining, as outlined on its corporate website via their Ten Guiding Principles for Corporate Responsibility. Kinross also achieved an A- ranking in Maclean'sMaclean's
Maclean's is a Canadian weekly news magazine, reporting on Canadian issues such as politics, pop culture, and current events.-History:Founded in 1905 by Toronto journalist/entrepreneur Lt.-Col. John Bayne Maclean, a 43-year-old trade magazine publisher who purchased an advertising agency's in-house...
magazine's annual assessment of socially responsible companies, the highest ranking of any Canadian mining company, and was selected as a constituent of the Jantzi Social Index
Jantzi Social Index
The Jantzi Social Index is a Canadian stock market index created in 2000. It is based on a modified S&P/TSX Composite Index with the purpose being to measure the effect of a socially and environmentally conscious stock market index on market behavior....
. For Kinross' cooperation with an environmental group in Washington state, and for five out of eight mines being in compliance with the International Cyanide Management Code
International Cyanide Management Code
The International Cyanide Management Code is voluntary code of industry practices for cyanide handing in metal mining and processing. Through a process started in 2000, it was jointly promulgated in 2002 by the United Nations Environment Program and the predecessor to the International Council on...
, Kinross was recognized as one of Canada's Top 50 Most Responsible Corporations by Maclean's magazine and Jantzi Research in 2009. In October 2008, Kinross was named one of Greater Toronto's Top Employers
Greater Toronto's Top Employers
Greater Toronto's Top Employers is an annual competition that recognizes the best places to work in the Greater Toronto Area...
by Mediacorp Canada Inc., which was announced by the Toronto Star
Toronto Star
The Toronto Star is Canada's highest-circulation newspaper, based in Toronto, Ontario, Canada. Its print edition is distributed almost entirely within the province of Ontario...
newspaper. In 2011, Kinross was named to the Dow Jones Sustainability World Index (DJSI) and to the Dow Jones Sustainability North America Index for the second consecutive year.