Excluding Acquisitions, Kinross Sees Little Change in Production and Costs, but Future Looks Better
Kinross’s production grew to nearly 2.8 million gold equivalent ounces, or GEO, in 2016 from 2.5 million GEO in 2015. However, this is largely attributable to the acquisition of Bald Mountain and the 50% stake it didn’t own in Round Mountain. Otherwise, companywide production would have been largely flat from the prior year. Production cost of sales crept up to $712 per GEO from $696 in the prior year, due to the acquisition of Bald Mountain and higher costs at some of Kinross’s other mines. Whi...Kinross Gold is engaged in the mining and processing of gold and, as a by-product, silver ore and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation, West Africa and worldwide. As of Dec 31 2013, Co.'s proven mineral reserves for gold and silver were 1,122 ounces and 1,179 ounces respectively.7,883 7,883 7,883
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