Content deleted Content added
Burritomundo (talk | contribs) m Updating infobox from citation |
Burritomundo (talk | contribs) →Tasiast: rewrote and updated section with Mauritanian strike and agreement |
||
Line 90:
Kinross acquired the Tasiast mine (located in [[Mauritania]]) in 2010, expanding the operation twice by 2017.<ref name="Survey2013">{{cite book|author=Geological Survey|url=https://books.google.com/books?id=M8U_NOcpKygC&pg=SA30-PA2|title=Minerals Yearbook - Area Reports: International Review: 2011, Africa and the Middle East|date=1 December 2013|publisher=Government Printing Office|isbn=978-1-4113-3669-8|pages=30–}}</ref><ref name="The Northern Miner tasiast">{{cite web|title=Kinross's scaled-down expansion plan at Tasiast|url=http://www.northernminer.com/news/kinross-reveals-new-expansion-plan-at-tasiast/1003723612/|access-date=25 September 2016|website=The Northern Miner|publisher=The Northern Miner}}</ref><ref name="Lazenby, Henry">[http://www.miningweekly.com/print-version/kinross-to-proceed-with-tasiast-phase-2-round-mountain-expansion-projects-2017-09-18 Lazenby, Henry] "Kinross to proceed with Tasiast Phase 2, Round Mountain expansion projects", ''Mining Weekly, September 18, 2017. Retrieved November 3, 2017.''</ref>
In 2012, [[securities]] [[class action]] lawsuits launched in the U.S. and Canada,
In 2016, due to "government allegations of invalid work permits" for expatriate employees, the mine suspended operations, resuming them in August that same year.<ref name="Mining suspend">{{cite web|last1=Jasmamie|first1=Cecilia|title=Kinross Gold suspends work at Tasiast mine in Mauritania, shares dive|url=http://www.mining.com/kinross-gold-suspends-work-at-tasiast-mine-in-mauritania-shares-dive/|access-date=23 September 2016|website=Mining|publisher=Mining}}</ref><ref name="Market Realist gold">{{cite web|last1=Gilroy|first1=Annie|title=How Kinross Gold's Recent Operational Updates Affect Its Future|url=http://marketrealist.com/2016/08/tasiast-back-full-swing-implications-kinross-gold/|access-date=23 September 2016|website=Market Realist|publisher=Market Realist}}</ref><ref name="Mining tasiast">{{cite web|last1=Jasmamie|first1=Cecilia|title=Kinross Gold workers strike at Tasiast mine in Mauritania, shares plummet|url=http://www.mining.com/kinross-gold-workers-strike-at-tasiast-mine-in-mauritania-shares-plummet/|access-date=23 September 2016|website=Mining|publisher=Mining}}</ref>▼
▲In June 2016, due to "government allegations of invalid work permits" for [[expatriate]] employees, the mine suspended operations, resuming them in August that same year.<ref name="Mining suspend">{{cite web|last1=Jasmamie|first1=Cecilia|title=Kinross Gold suspends work at Tasiast mine in Mauritania, shares dive|url=http://www.mining.com/kinross-gold-suspends-work-at-tasiast-mine-in-mauritania-shares-dive/|access-date=23 September 2016|website=Mining|publisher=Mining}}</ref><ref name="Market Realist gold">{{cite web|last1=Gilroy|first1=Annie|title=How Kinross Gold's Recent Operational Updates Affect Its Future|url=http://marketrealist.com/2016/08/tasiast-back-full-swing-implications-kinross-gold/|access-date=23 September 2016|website=Market Realist|publisher=Market Realist}}</ref><ref name="Mining tasiast">{{cite web|last1=Jasmamie|first1=Cecilia|title=Kinross Gold workers strike at Tasiast mine in Mauritania, shares plummet|url=http://www.mining.com/kinross-gold-workers-strike-at-tasiast-mine-in-mauritania-shares-plummet/|access-date=23 September 2016|website=Mining|publisher=Mining}}</ref>
In May 2020, there was a short strike by unionized employees at the mine, which was suspended at the request of the Mauritanian government.<ref>{{Cite news |date=2020-06-15 |title=Kinross Gold resolves Mauritania disputes and secures expansion |language=en |work=Reuters |url=https://www.reuters.com/article/us-kinross-mauritania-idUSKBN23M2BE |access-date=2022-06-10}}</ref> A month later, Kinross reached an agreement in principle with the government, which included revalued [[Royalty payment|royalties]].<ref>{{Cite web |date=2021-07-21 |title=Canada’s Kinross and Mauritania finally come to an agreement…without Tasiast Sud |url=https://www.theafricareport.com/110084/canadas-kinross-and-mauritania-finally-come-to-an-agreement-without-tasiast-sud/ |access-date=2022-06-10 |website=The Africa Report.com |language=en-US}}</ref>
▲In 2012, [[securities]] [[class action]] lawsuits launched in the U.S. and Canada alleged that Kinross Gold overstated the value of Tasiast mine in its financial statements and made other false statements.<ref name="s2.q4cdn.com">See page MDA 36 on 2015 Kinross Gold Annual Report http://s2.q4cdn.com/496390694/files/doc_financials/annual/2016/2015-Kinross-Gold-Annual-Report.pdf</ref> The Ontario action alleged that Kinross had an unreported goodwill impairment in 2011, had failed to disclosed the mine's high amounts of low-grade ore, and misrepresented the accuracy of the mine's expansion project schedules.<ref>Paragraphs 4 and 158 of the court decision - Bayens v Kinross - Ontario Superior Court - http://www.canlii.org/en/on/onsc/doc/2013/2013onsc6864/2013onsc6864.html?autocompleteStr=bayens&autocompletePos=3</ref>In 2015, the parties reached [[no-fault]] settlement agreements which included payments by Kinross totaling approximately $US 40 million.<ref name="s2.q4cdn.com" />
===Chirano===
Kinross holds 90% ownership of the Chirano gold mine, with the remainder held by the [[Government of Ghana]].<ref name="NYT" /> In April 2022, Kinross announced plans to sell its 90% ownership for US$225-million to Asante Gold Corp.<ref>{{Cite news |last=McGee |first=Niall |date=2022-04-25 |title=Toronto-based Kinross Gold to exit Ghana mine in US$225-million deal |language=en-CA |work=The Globe and Mail |url=https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-toronto-based-kinross-gold-to-exit-ghana-mine-in-us225-million-deal/ |access-date=2022-04-25}}</ref>[[File:Kupol winter.jpg|thumb|Trucks on ice road to Kupol mine in Russia, 2013.]]
|