Kinross records 20% margin surge, free cash flow triples
Canadian miner Kinross has kicked off the year on a robust note, marking a 20% surge in margins and a remarkable tripling of its free cash flow.
In its first-quarter report unveiled this Tuesday, Kinross revealed a 20% uptick in margins to $1 088/gold-equivalent ounce (GEO) sold, outpacing the rise in the average realised gold price.
The company posted attributable free cash flow of $145.3-million in the three months ended March.
Net earnings rose to $107-million, or $0.09 a share, and adjusted net earnings jumped to $124.9-million, or $0.10 a share.
“Our portfolio of mines performed well, driven by strong operational performance, disciplined cost management and higher gold prices,” said CEO Paul Rollinson.
With first-quarter production of 527 399 GEOs at an all-in sustaining cost (AISC) of $1 310/GEO, Kinross is on track to meet its yearly guidance of 2.10-million GEOs at an AISC of $1 360/GEO.
Kinross’ three biggest producing mines – Tasiast, Paracatu and La Coipa – delivered 68% of total production.
Tasiast achieved record quarterly throughput as the mine continued its strong performance since the completion of the 24k project, while Paracatu achieved record quarterly throughput and La Coipa continued to deliver high-margin production.
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