Kinross Gold Corporation is engaged in gold mining and related activities, including the exploration and acquisition of gold bearing properties, the extraction and processing of gold containing ore, and the reclamation of mined lands. The company produces gold in the form of dore that is sent to refineries for final sale, and it also extracts and sells silver as a by product.
Kinross Gold Corporation generates revenue primarily from the sale of gold and silver produced at…
Kinross Gold Corporation is engaged in gold mining and related activities, including the exploration and acquisition of gold bearing properties, the extraction and processing of gold containing ore, and the reclamation of mined lands. The company produces gold in the form of dore that is sent to refineries for final sale, and it also extracts and sells silver as a by product.
Kinross Gold Corporation generates revenue primarily from the sale of gold and silver produced at its mines. The company sells its dore output to international refineries and bullion dealers, who then process the metal into marketable bars and coins. Revenue fluctuates with the market prices of gold and silver and the volume of metal sold.
The company operates through the following segments: Tasiast, Paracatu, La Coipa, Fort Knox, Round Mountain and Bald Mountain.
- The Tasiast segment consists of the 100 percent owned Tasiast mine in Mauritania, which extracts and processes gold ore to produce dore for sale.
- The Paracatu segment comprises the 100 percent owned Paracatu mine in Brazil, where gold bearing ore is mined, crushed and leached to recover gold that is poured into dore bars.
- The La Coipa segment covers the 100 percent owned La Coipa mine in Chile, which produces both gold and silver from open pit and underground operations and sells the resulting dore to refineries.
- The Fort Knox segment combines the 100 percent owned Fort Knox mine and the 70 percent owned Manh Choh mine, both located in Alaska, United States, where gold ore is processed through heap leaching and milling to yield dore.
- The Round Mountain segment represents the 100 percent owned Round Mountain mine in Nevada, United States, which uses conventional milling and heap leaching to extract gold from ore and pour it into dore bars.
- The Bald Mountain segment consists of the 100 percent owned Bald Mountain mine in Nevada, United States, where gold is recovered from ore via heap leaching and milling before being poured into dore for sale.
Kinross Gold Corporation operates as a mid tier gold producer within the global precious metal mining industry. The company competes with numerous other firms for the acquisition and development of gold bearing properties. Its competitive position is supported by a geographically diverse portfolio of operating mines and development projects spanning Canada, the United States, Brazil, Chile and Mauritania.
The company’s primary customers are refineries and bullion dealers that purchase dore for further processing into bars, coins and other precious metal products. Kinross also sells a smaller volume of silver to similar market participants.