Kinross Gold: Difference between revisions

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Removed press release, condensed duplicate information regarding divested Russian mines.
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===Fort Knox===
This property includes a mill, [[tailings]] storage, [[Heap leaching|heap leach]] facility, the Gil project, and the True North open pit mine, which is closed and under monitoring.<ref name="Reuters company profile">{{cite web|title=Kinross Gold Corp (KGC)|url=https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=KGC|url-status=dead|archive-url=https://web.archive.org/web/20100223052050/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=KGC|archive-date=23 February 2010|access-date=31 August 2011|publisher=Reuters}}</ref> Expected to run out of ore in 2021, the mine's life has been extended to 2030 following a $100 million expansion investment announced in 2018, increasing life-of-mine production by about 1.5 million gold equivalent ounces.<ref>{{cite web|date=12 June 2018|title=Kinross going ahead with expansion of Alaska gold mine|url=http://www.mining.com/kinross-going-ahead-expansion-alaska-gold-mine/|access-date=14 June 2018|publisher=Mining.com|language=en}}</ref>
[[Image:Round Mountain gold mine, aerial.jpg|thumb|right|Round Mountain Gold Mine]]
 
===Round Mountain===
The [[Round Mountain Gold Mine]] is located in [[Nye County, Nevada]] and has operated by Kinross since 2003. They purchased the remaining outstanding interest in the company from [[Barrick Gold]] in 2016.<ref name="LandsResources1999">{{cite book|author1=Committee on Hardrock Mining on Federal Lands|url=https://books.google.com/books?id=xVIOYm9kZPsC&pg=PA136|title=Hardrock Mining on Federal Lands|author2=Board on Earth Sciences and Resources|author3=Commission on Geosciences, Environment and Resources|author4=Division on Earth and Life Studies, National Research Council|date=3 December 1999|publisher=National Academies Press|isbn=978-0-309-06596-2|pages=136–}}</ref><ref name="Elko - BLM OK">{{cite news|last=Harding|first=Adella|date=7 July 2010|title=BLM OKs Round Mountain expansion|newspaper=Elko Daily Free Press|url=http://elkodaily.com/mining/article_9c75e91c-8a27-11df-895c-001cc4c002e0.html|access-date=31 August 2011}}</ref><ref name="Elko free press protest">{{cite news|last=Harding|first=Adella|date=22 Aug 2010|title=Appeals filed against Round Mountain|newspaper=Elko Daily Free Press|url=http://elkodaily.com/news/local/article_3c0c700c-ae79-11df-a1bd-001cc4c002e0.html|access-date=31 August 2011}}</ref>
 
===Bald Mountain===
[[File:Gold-228547.jpg|thumb|Gold from the Round Mountain Mine]]Located in [[White Pine County, Nevada]], the Bald Mountain mine is operated by subsidiary KG Mining (Bald Mountain) Inc.<ref name="Mining nevada">{{cite web|last1=Jamasmie|first1=Cecilia|title=Kinross eyes expansions at its new gold mines in Nevada|url=http://www.mining.com/kinross-eyes-expansions-at-its-new-gold-mines-in-nevada/|access-date=23 September 2016|website=Mining|publisher=Mining}}</ref>
 
===Paracatu===
The open-pit [[Paracatu, Minas Gerais|Paracatu]] gold mine, located in northwest [[Minas Gerais]], Brazil.<ref>{{cite book|url=https://books.google.com/books?id=8pxNAQAAIAAJ|title=Canadian and American Mines Handbook|publisher=Business Information Group|year=2005|isbn=978-0-919336-63-6}}</ref><ref name="International Mining">{{cite web|title=Metso to supply grinding equipment to Kinross Gold's Paracatu in Brazil|url=http://im-mining.com/2011/01/03/metso-to-supply-grinding-equipment-to-kinross-golds-paracatu-in-brazil/|access-date=23 September 2016|website=International Mining|publisher=International Mining}}</ref>
 
===Tasiast===
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 [[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>
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Kinross acquired [[Hollinger Mines]] in 1999 as part of a land package prior to the bankruptcy of [[Royal Oak Mines]] (later sold to [[Goldcorp]] in 2006). Also that year, Kinross acquired LA Teko Resources Ltd. through its wholly owned subsidiary, LT Acquisition Inc. division.<ref>{{cite book|title=Canadian Mines Handbook|url=https://books.google.com/books?id=zM9RAQAAIAAJ|year=2001|publisher=Southam Mining Group}}</ref><ref>[https://documents.tips/documents/goldcorp-hollinger-mine-closure-plan.html AMEC Earth & Environmental] "Goldcorp Hollinger Mine Closure Plan", AMEC Americas Limited, December 2010. Retrieved November 3, 2017.</ref>
In July 2002, Kinross and [[Placer Dome]] combined their assets in [[Timmins]], Ontario and formed the Porcupine Joint Venture (51% Placer Dome, 49% Kinross).<ref>{{cite news|last=Vieira|first=Paul|title=Placer Dome, Kinross to join forces in Ontario gold operation: Kinross gains mill access|newspaper=National Post|date=12 April 2002|page=FP7}}</ref> In January 2003 Kinross TVX Gold and [[Echo Bay Mines]] shareholders approved a $3-billion merger, combining the three companies, while retaining the name Kinross Gold..<ref name="Mining Weekly dividend">{{cite web|last1=CZERNOWALOW|first1=MARTIN|title=Newmont increases dividend|url=http://www.miningweekly.com/article/newmont-increases-dividend-2003-01-31|website=Mining Weekly|publisher=Mining Weekly|access-date=17 September 2016}}</ref><ref>{{cite news|title=COMPANY NEWS Kinross, Echo Bay, TVX Delay Merger|url=http://www.canadianminingjournal.com/news/company-news--kinross-echo-bay-tvx-delay-merger/1000026617/|access-date=2 September 2011|newspaper=Canadian Mining Journal|date=20 November 2002}}</ref> The TVX merger resulted in Kinross' stake in the La Coipa open pit mine, the remainder being purchased from [[Goldcorp]] in 2007.
 
In 2006, Kinross bought Crown Resources Corporation, which gave it ownership of the mineral resource Buckhorn Mountain (later Buckhorn Gold Mine) and the associated mineral processing facilities.<ref>{{cite book|title=Okanogan and Wenatchee National Forests (N.F.), Buckhorn Access Project: Environmental Impact Statement|url=https://books.google.com/books?id=nJ82AQAAMAAJ&pg=SL19-PA4|year=2007|pages=19–}}</ref><ref name="lupin sold">{{cite news|last=Leng Yeong|first=Cheng|title=Kinross Has Record $65.6 Million Profit on Gold Rally (Update4)|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVfXPahtN8A4&refer=canada|archive-url=https://web.archive.org/web/20121106124539/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVfXPahtN8A4&refer=canada|url-status=dead|archive-date=6 November 2012|access-date=2 September 2011|newspaper=Bloomberg|date=4 August 2006}}</ref>
 
In 2006, Kinross bought Crown Resources Corporation, which gave it ownership of the mineral resource Buckhorn Mountain (later Buckhorn Gold Mine) and the associated mineral processing facilities.<ref>{{cite book|title=Okanogan and Wenatchee National Forests (N.F.), Buckhorn Access Project: Environmental Impact Statement|url=https://books.google.com/books?id=nJ82AQAAMAAJ&pg=SL19-PA4|year=2007|pages=19–}}</ref><ref name="lupin sold">{{cite news|last=Leng Yeong|first=Cheng|title=Kinross Has Record $65.6 Million Profit on Gold Rally (Update4)|url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVfXPahtN8A4&refer=canada|archive-url=https://web.archive.org/web/20121106124539/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVfXPahtN8A4&refer=canada|url-status=dead|archive-date=6 November 2012|access-date=2 September 2011|newspaper=Bloomberg|date=4 August 2006}}</ref>
===2007 – present===
In 2007, Kinross traded assets with [[Goldcorp]]; Kinross received $200 million and the remaining portion of the La Coipa Gold Mine it had acquired with the TVX merger, in exchange for giving up its 49% of the Porcupine Joint Venture and 31.9% of the [[Musselwhite mine]].<ref name="sells porcupine">{{cite news|title=Analysts see Goldcorp, Kinross asset swap gains|url=http://uk.reuters.com/article/goldcorp-kinross-idUKN2620866720070926|access-date=2 September 2011|newspaper=Bloomberg|date=26 Sep 2007}}</ref>
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==Non-operating, discontinued and divested mines==
* '''Julietta Mine -''' Julietta is a gold and silver mine located in the [[Omsukchansky District]] of [[Magadan Oblast]], near Russia's far eastern border.<ref>[https://mining-atlas.com/operation/Julietta-Gold-Silver-Mine.php ''Mining Atlas''] "Julietta Data". Retrieved January 19, 2018.</ref>
 
* '''Kettle River-Buckhorn -''' the [[State of Washington|Washington]]-state based mine and mill were acquired by Kinross in 2006, and was closed in 2017.<ref>{{cite web |title=Major Mines & Projects {{!}} Kettle River-Buckhorn Mine |url=https://miningdataonline.com/property/132/Kettle-River-Buckhorn-Mine.aspx |website=miningdataonline.com |access-date=25 June 2021}}</ref><ref>{{cite news|author1=Brock Hires|title=Buckhorn mine scheduled to close by April|url=http://www.omakchronicle.com/news/2017/mar/01/buckhorn-mine-scheduled-close-april/|access-date=30 March 2017|agency=Omak Chronicle|date=February 28, 2017|language=en}}</ref>
* '''Mineral Hill -''' located on the east side of Crevice Mountain, [[Montana]], Mineral Hill operated from 1990 to 1996. In 2017, Kinross donated water rights representing 3 billion gallons of water to [[Trout Unlimited]] to protect fish habitat in tributaries of the [[Yellowstone River]].<ref>[http://www.nasdaq.com/press-release/kinross-gold-trout-unlimited-and-rocky-mountain-elk-foundation-partner-to-protect-wildlife-habitat-20170817-00529 ''Marketwired''] via ''Nasdaq'': "Kinross Gold, Trout Unlimited and Rocky Mountain Elk Foundation partner to protect wildlife habitat near Yellowstone National Park" August 17, 2017. Accessed September 12, 2017.</ref>
* '''[[Cerro Casale mine|Cerro Casale]] -''' Chile-based mine acquired by Kinross in 2007.<ref name="Usa2009">{{cite book|author=Usa Ibp Usa|title=Chile Mineral & Mining Sector Investment and Business Guide Volume 1 Strategic Information and Regulations|url=https://books.google.com/books?id=rglc6dRyspUC&pg=PA63|date=November 2009|publisher=Int'l Business Publications|isbn=978-1-4330-0664-7|pages=63–}}</ref><ref name="GoldSeek">{{cite web|last1=Russell|first1=Simon|title=Exeter Resource Corporation: Big Gold Discovery in Northern Chile|url=http://news.goldseek.com/GoldSeek/1334948400.php|website=GoldSeek|publisher=GoldSeek|access-date=25 September 2016}}</ref> As of 2015, the mine was inactive,<ref name="Minería Chilena">{{cite web|title=Estudio para reactivar Cerro Casale finaliza sin éxito y Barrick lo saca de su portafolio|url=http://www.mch.cl/2015/03/31/estudio-para-reactivar-cerro-casale-finaliza-sin-exito-y-barrick-lo-saca-de-su-portafolio/#|website=Minería Chilena|publisher=Minería Chilena|access-date=25 September 2016}}</ref> and Kinross divested in 2017.<ref>{{cite web|title=Kinross Gold Completes Sale of Cerro Casale Interest|url=https://www.juniorminingnetwork.com/junior-miner-news/press-releases/879-tsx/k/33251-kinross-gold-completes-sale-of-cerro-casale-interest.html|website=Market Wired|access-date=9 June 2017|language=en}}</ref>
 
* '''[[Cerro Casale mine|Cerro Casale]] -''' Chile-based mine acquired by Kinross in 2007.<ref name="Usa2009">{{cite book|author=Usa Ibp Usa|title=Chile Mineral & Mining Sector Investment and Business Guide Volume 1 Strategic Information and Regulations|url=https://books.google.com/books?id=rglc6dRyspUC&pg=PA63|date=November 2009|publisher=Int'l Business Publications|isbn=978-1-4330-0664-7|pages=63–}}</ref><ref name="GoldSeek">{{cite web|last1=Russell|first1=Simon|title=Exeter Resource Corporation: Big Gold Discovery in Northern Chile|url=http://news.goldseek.com/GoldSeek/1334948400.php|website=GoldSeek|publisher=GoldSeek|access-date=25 September 2016}}</ref> As of 2015, the mine was inactive,<ref name="Minería Chilena">{{cite web|title=Estudio para reactivar Cerro Casale finaliza sin éxito y Barrick lo saca de su portafolio|url=http://www.mch.cl/2015/03/31/estudio-para-reactivar-cerro-casale-finaliza-sin-exito-y-barrick-lo-saca-de-su-portafolio/#|website=Minería Chilena|publisher=Minería Chilena|access-date=25 September 2016}}</ref>and Kinross divested in 2017.<ref>{{cite web|title=Kinross Gold Completes Sale of Cerro Casale Interest|url=https://www.juniorminingnetwork.com/junior-miner-news/press-releases/879-tsx/k/33251-kinross-gold-completes-sale-of-cerro-casale-interest.html|website=Market Wired|access-date=9 June 2017|language=en}}</ref>
 
* '''[[Crixás, Brazil|Crixás]] -''' Kinross sold its 50% interest in the [[Brazil]]-based mine to [[AngloGold Ashanti]] for $220 million.<ref name="Kinross Gold crixas">{{cite web|last1=Mitchell|first1=Steve|title=Kinross agrees to sale of Crixás interest for $220 million|url=http://www.kinross.com/news-and-investors/news-releases/press-release-details/2012/Kinross-agrees-to-sale-of-Crixs-interest-for-220-million/default.aspx|website=Kinross Gold|publisher=Kinross Gold|access-date=17 September 2016}}</ref>
* '''[[Fruta del Norte mine|Fruta del Norte]] -''' Kinross purchased 100% of outstanding shares in the Ecuadorian deposit in 2008,<ref name="Mining ecuador">{{cite web|last1=Jamasmie|first1=Cecilia|title=Lundin Gold getting closer to developing Fruta del Norte in Ecuador|url=http://www.mining.com/lundin-gold-getting-closer-to-developing-fruta-del-norte-in-ecuador/|website=Mining|publisher=Mining|access-date=23 September 2016}}</ref> but ceased development in 2013,<ref name="Bloomberg ecuador">{{cite web|last1=Gill|first1=Nathan|title=Kinross Reaches Preliminary Agreement for Ecuador Mine|url=https://www.bloomberg.com/news/articles/2011-12-06/kinross-reaches-preliminary-agreement-for-ecuador-mine-1-|website=Bloomberg|publisher=Bloomberg|access-date=23 September 2016}}</ref> and sold the rights in 2014.<ref name="Wall Street Journal ecuador">{{cite web|last1=Alvaro|first1=Mercedes|title=Kinross to Sell Interest in Ecuador's Fruta del Norte Gold Mine to Fortress|url=https://www.wsj.com/articles/kinross-to-sell-interest-in-ecuadors-fruta-del-norte-gold-mine-to-fortress-1413945895|website=Wall Street Journal|publisher=Wall Street Journal|access-date=23 September 2016}}</ref>
* '''La Coipa -''' Kinross incurred an impairment charge of $124 million in 2014 after development on the Chile-based mine ceased.<ref name="Reuters coipa">{{cite web|last1=Tilak|first1=John|last2=O'Brien|first2=Rosalba|title=Exclusive: Kinross to retreat from Chile, puts unit on the block|url=https://www.reuters.com/article/us-kinross-divestiture-chile-idUSKCN10T1WC?type=companyNews|website=Reuters|publisher=Reuters|access-date=24 September 2016}}</ref> In February 2020, Kinross announced it was proceeding with the La Coipa Restart project to mine the Phase 7 deposit, expected to operate from 2022 to 2024.<ref>{{Cite web |last=Webb |first=Mariaan |date=2020-02-13 |title=Kinross pulls trigger on La Coipa restart project |url=https://www.miningweekly.com/article/kinross-pulls-trigger-on-la-coipa-restart-project-2020-02-13 |url-status=live |access-date=2022-05-26 |website=Mining Weekly}}</ref>
* '''[[Lobo-Marte mine|Lobo-Marte]] -''' After acquiring 40% interest in the Chile mine in 2008,<ref>{{cite web|title=2008 Kinross Gold Annual Report|url=http://s2.q4cdn.com/496390694/files/doc_financials/annual/2008/2008-annual-report.pdf|website=www.Kinross.com|publisher=Kinross Gold Corporation|access-date=9 September 2016|page=34|language=en}}</ref> Kinross acquired the remaining interest in 2009, for a total cost of $182 million.<ref>{{cite web|title=2009 Kinross Gold Annual Report|url=http://s2.q4cdn.com/496390694/files/doc_financials/annual/2010/2010-annual-report.pdf|website=www.Kinross.com|publisher=Kinross Gold Corpo ration|access-date=9 September 2016|page=58|language=en}}</ref> The results of a pre-feasibility study at Lobo-Marte was announced in July 2020. Subject to development decision, project construction will begin in 2025, with production expected in 2027.<ref>{{Cite web |last=Mitrovic |first=Tijana |date=2020-07-15 |title=Kinross Gold reports pre-feasibility results for its Lobo-Marte gold project |url=https://magazine.cim.org/en/news/2020/kinross-gold-reports-prefeasibility-results-for-lobo-marte-gold-project-en/ |url-status=live |access-date=2022-05-26 |website=CIM Magazine}}</ref>
* '''[[Maricunga Gold Mine|Maricunga]] -''' Operations ceased in August 2016, after the Chilean government shut off the mine's water supply over environmental concerns.<ref name="Reuters chile">{{cite web|last1=George|first1=Vishaka|title=Kinross suspends operations at Chile mine, lays off 300 workers|url=https://www.reuters.com/article/kinross-mine-chile-idUSL3N1B64TT|website=Reuters|publisher=Reuters|access-date=23 September 2016}}</ref> As a result, 300 employees were laid off,<ref name="Mining maricunga">{{cite web|last1=Jasmamie|first1=Cecilia|title=Kinross Gold halts Maricunga mine in Chile, lays off 300 workers|url=http://www.mining.com/kinross-gold-halts-maricunga-mine-in-chile-lays-off-300-workers/|website=Mining|publisher=Mining|access-date=23 September 2016}}</ref> and Kinross incurred an impairment charge of $68 million.<ref>{{cite web|title=2016 Kinross Gold Financial Statements|url=https://www.kinross.com/news-and-investors/news-releases/press-release-details/2017/Kinross-reports-2016-fourth-quarter-and-full-year-results/|website=Kinross Gold|pages=34|language=en}}</ref>
*'''[[Dvoinoye Gold Mine]] & [[Kupol Gold Mine]] -''' The Dvoinoye and Kupol gold mines are located in Russia approximately {{convert|100|km|mi|sigfig=1}} apart; Dvoinoye is an [[underground mine]], while Kupol is a combination of open-pit and underground. Acquired in 2010 and opened in 2013, Dvionoye/Kupol was one of Kinross' most profitable segments. In April 2022, Kinross announced that it was selling 100% of its Russian assets to the Highland Gold Mining, completing the sale of Russian assets two months later.<ref>{{Cite web |title=Canadian miner Kinross Gold selling 100% of Russian assets as it exits country {{!}} Globalnews.ca |url=https://globalnews.ca/news/8737141/kinross-gold-selling-russia-assets/ |access-date=2022-04-05 |website=Global News |language=en-US}}</ref><ref>{{cite web |last1=Friedman |first1=Gabriel |title=Kinross finds buyer for Kupol mine complex in what analyst calls 'messy exit' from Russia |url=https://financialpost.com/commodities/mining/kinross-finds-buyer-for-kupol-mine-complex-in-what-analyst-calls-messy-exit-from-russia |website=Financial Post |access-date=4 May 2022 |language=en |date=6 April 2022}}</ref>
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===Assets===
Kinross Gold's total assets decreased significantly in recent years, from $US 16.39 billion in 2010 to $US 7.73 billion in 2015.<ref>See page 110 of 2010 Annual Report - http://fb.kinross.com/media/213502/2010%20annual%20report.pdf</ref><ref>{{cite web|title=2015 Annual Report|url=http://s2.q4cdn.com/496390694/files/ar/2015/pdf/2015-Kinross-Gold-Annual-Report.pdf|publisher=Kinross Gold Corporation|access-date=4 January 2017|language=en}}</ref>
 
===Other===
Kinross suspended dividend payments in 2013.<ref>See page MDA14 2013 financial statements - http://s2.q4cdn.com/496390694/files/doc_financials/annual/2013/kinross-2013-annual-report.pdf</ref> It started paying again in 2020, and that year, also announced a share buyback program.<ref>{{Cite web |last=Webb |first=Mariaan |date=29 July 2021 |title=Kinross unveils share buyback plan, lowers Tasiast restart costs |url=https://www.miningweekly.com/article/kinross-unveils-share-buyback-plan-lowers-tasiast-restart-costs-2021-07-29 |url-status=live |access-date=21 April 2022 |website=Mining Weekly}}</ref>
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On March 2, 2020, Moody's announced it had upgraded Kinross's credit rating to investment grade.<ref>{{Cite web |title=Form 6-K KINROSS GOLD CORP For: Mar 03 |url=https://www.streetinsider.com/dr/news.php?id=16564119 |access-date=2022-05-27 |website=www.streetinsider.com}}</ref> Their senior unsecured notes rating was upgraded to Ba1, with a stable outlook. Kinross currently holds investment grade ratings from Moody's, S&P Global Ratings, and [[Fitch Ratings]].<ref>{{Cite web |title=Mining Weekly - Moody’s upgrades Kinross rating to investment grade |url=https://www.miningweekly.com/print-version/moodys-upgrades-kinross-rating-to-investment-grade-2020-03-03 |access-date=2022-05-27 |website=Engineering News |language=en}}</ref>
 
==Corporate responsibility==
In 2015, Kinross achieved an A− ranking in ''[[Maclean's]]'' magazine's annual assessment of socially responsible companies, the highest ranking of any Canadian mining company.<ref name="Mining Global">{{cite web|title=What does it take to be a responsible miner?|url=http://www.miningglobal.com/operations/1666/What-does-it-take-to-be-a-responsible-miner|website=Mining Global|publisher=Mining Global|access-date=25 September 2016}}</ref><ref name="Canadian Mining Journal mclean">{{cite web|title=GOLD: Maclean's names Kinross top socially responsible mining company|url=http://www.canadianminingjournal.com/news/gold-macleans-names-kinross-top-socially-responsible-mining-company/|website=Canadian Mining Journal|publisher=Canadian Mining Journal|access-date=27 September 2016}}</ref>