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TORONTO, Nov 6 (Reuters) - Kinross Gold Corp is talking with three main lenders on its $1.6 billion Tasiast gold mine expansion and will review terms later this month, though the project looks unlikely if gold prices do not rebound, the company said on Thursday. "Nevertheless, we will continue to look for ways to further optimize our operations and reduce costs. As we begin our 2015 budgeting process, there are a number of discretionary options we will focus on in order to reduce spending without impacting operations." Kinross, which has operations in North and South America, Africa and Russia, currently benefits from a lower oil price and weaker foreign currencies relative to the U.S. dollar, Rollinson said. Gold producers are looking for ways to further reduce costs as the price of bullion slides, considering job cuts, shutting mines, halting projects and scrapping dividends. Kinross shares jumped 32 Canadian cents to C$2.59 on the Toronto Stock Exchange on Thursday morning. Dundee Capital Markets analyst John Wolfson said the share gains stem primarily from the strong quarter and operating results. (Reporting by Susan Taylor; Editing by Meredith Mazzilli)
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Kinross Gold Corporation
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PRODUCER |
CODE : K.TO |
ISIN : CA4969024047 |
CUSIP : 496902404 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Kinross Gold is a gold producing company based in Canada. Kinross Gold produces gold, silver in Brazil, in Canada, in Chile, in Ghana, in Mauritania, in Russia and in USA, develops copper, gold and silver in Chile, and holds various exploration projects in Canada, in Chile and in Russia. Its main assets in production are ROUND MOUNTAIN in USA, CRIXÁS, MORRO DO OURO and PARACATU in Brazil, REFUGIO MINE (VERDE AND PANCHO), FORT KNOX, MARICUNGA and LA COIPA in Chile, PORCUPINE and MUSSELWHITE in Canada, CHIRANO in Ghana, TASIAST in Mauritania and KUPOL in Russia, its main assets in development are KETTLE RIVER, GOLD HILL and CERRO CASALE in Chile and its main exploration properties are AHAFO NORTH, BIBIANI NORTH, BOLE, BOLE - BOLGATANGA, AKYEM, RUSSIAN MOUNTAIN, HORN MOUNTAIN, GIL, ENCHI and GOLDBANKS - KINROSS in Ghana, FRUTA DEL NORTE in Ecuador, HAMMOND REEF in Canada, KUBAKA MINE - BIRKACHAN in Russia and LOBO-MARTE in Chile. Kinross Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 11.2 billions as of today (US$ 8.2 billions, € 7.7 billions). Its stock quote reached its lowest recent point on October 27, 2000 at CA$ 1.43, and its highest recent level on December 13, 2002 at CA$ 9.99. Kinross Gold has 1 246 749 952 shares outstanding. |