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Unformatted text preview: rantee facility to
increase the amount from $136.0 million to $200.0 million and extend the maturity date to March 31, 2015. All
other terms and conditions under this agreement remained the same. As at December 31, 2012, the amount
outstanding under this facility was $164.1 million (December 31, 2011 - $135.1 million). FS48 KINROSS GOLD 2012 ANNUAL REPORT In addition, at December 31, 2012, the Company had approximately $44.3 million (December 31, 2011 - $41.0
million) in letters of credit outstanding, in respect of its operations in Brazil, Mauritania and Ghana. These letters
of credit have been issued pursuant to arrangements with certain international banks.
From time to time, the Company’s operations in Brazil may borrow US dollars from Brazilian banks on a
short-term unsecured basis to meet working capital requirements. As at December 31, 2012 and December 31,
2011, $nil was outstanding under such borrowings. KINROSS GOLD 2012 ANNUAL REPORT FS49 14. PROVISIONS Balance at January 1, 2012
Balance at December 31, 2012 Reclamation and
720.8 $ Current portion
$ i. 36.0
7 20.8 $ Other Total
42.6 $ 635.2
42.6 $ 42.0
763.4 Reclamation and remediation obligations
The Company conducts its operations so as to protect the public health and the environment, and to comply
with all applicable laws and regulations governing protection of the environment. Reclamation and remediation
obligations arise throughout the life of each mine. The Company estimates future reclamation costs based on
the level of current mining activity and estimates of costs required to fulfill the Company’s future obligation. The
above table details the items that affect the reclamation and remediation obligations. The additions and
reductions reflect changes in estimated costs, timing of expenditures and discount rates at individual sites. Also
included in re...
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This document was uploaded on 03/30/2014.
- Spring '14