Kinross Gold: Difference between revisions

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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, alleging Kinross Gold overstated the value of Tasiast mine in its financial statements, misrepresented some of the mine's project expansion schedules, 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><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 [[strict liability|no-fault]] settlement agreements which included payments by Kinross totaling approximately $US 40 million.<ref name="s2.q4cdn.com" />
 
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>