Kinross Gold Corporation KGC announced that its operations at Maricunga mine located at Chile’s Northern Atacama region were affected by extreme weather conditions. The region experienced heavy rain that caused flooding and damaged infrastructure.

Kinross has temporarily suspended mining and crushing operations and the SART plant at the mine. The company is assessing the level of damage caused to roads and power lines to Maricunga which is located 120 km east of the city of Copiapo, at about 4,500 meters above sea level. The main road to the mine is currently impassable and the power lines are down. The mine is relying on generators for supplying electricity to the camps and operating the ADR plant.

Kinross, however, does not expect the temporary suspension of operations to impact its regional production guidance for 2015.

Kinross recorded a net loss of $1,473.5 million (or $1.29 per share) on a reported basis in the fourth quarter of 2014, significantly wider than a net loss of $740 million (or 65 cents a share) recorded in the year-ago quarter.

Loss in the reported quarter resulted from $932.2 million of after-tax non-cash impairment charge related to property, plant and equipment and an inventory charge of $167.6 million. The year-ago quarter’s results were dragged down by impairment charges of $544.8 million.

Adjusted (excluding one-time items) loss was a penny per share in the fourth quarter compared with adjusted loss of 2 cents recorded in the year-ago quarter. The results missed the Zacks Consensus Estimate of earnings of 1 cent. The bottom line was hit by lower gold prices.

Revenues decreased roughly 9.8% year over year to $791.3 million in the reported quarter due to untimely gold shipments and reduced average realized gold price. However, revenues came ahead of the Zacks Consensus Estimate of $698 million.

Kinross currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the gold mining industry are Gold Standard Ventures Corp GSV, Asanko Gold Inc. AKG and Newmont Mining Corporation NEM. All of these hold a Zacks Rank #2 (Buy).