Kinross reports strong Q3 results
Canada-based Kinross Gold has delivered a strong third quarter, with a solid production profile and significant cash flow generation, president and CEO Paul Rollinson reported on Wednesday.
The mining company increased its production by 11% year-on-year to 585 449 gold-equivalent ounces (GEOs) at an all-in sustaining cost (AISC) of $1 296/GEO.
Kinross generated $122.9-million in free cash flow during the quarter, reported cash and cash equivalents of $464.9-billion and said it had total liquidity of about $2-billion.
The board declared a quarterly dividend of $0.03 a share.
The Tasiast mine, in Mauritania, achieved record quarterly production of 171 140 GEOs, significantly exceeding the previous record set in the second quarter. Paracatu, in Brazil, delivered higher production, both on a quarter-on-quarter and a year-on-year basis, of 172 482 GEOs. La Coipa, in Chile, performed well, producing 65 975 GEOs and was the lowest-cost mine in the portfolio.
Kinross’ US mines delivered a total of 175 852 GEOs in the third quarter, which was a drop from the 203 333 GEOs produced in the corresponding quarter of 2022.
The company is on track to meet its 2023 guidance for production, cost of sales and AISC, as well as capital expenditures.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation