1 7 56 739 1106 180 24 902 1 75292 1 78269 2

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Unformatted text preview: 9 $ $ 2 79.4 $ 7 4.9 8 0.9 1 23.6 8 .9 (0.4) 1 15.1 $ Change % Change (a) (64) (38) (0.50) 2.9% (14%) (9%) (4%) 3% (19,199) (21,303) (11%) (12%) (19.3) 0 .7 (7.0) (13.0) 9 .1 2 .8 (24.9) (7%) 1% (9%) (11%) 102% nm (22%) (a) "nm" means not meaningful. The Kettle River–Buckhorn properties are located in Ferry County in the State of Washington. Kinross acquired Kettle River through the acquisition of Echo Bay on January 31, 2003. 2012 vs. 2011 During 2012 tonnes of ore mined and processed declined by 14% and 9%, respectively, compared with 2011 due to planned mine sequencing. Grades declined by 4% compared with 2011, also due to planned mine sequencing. Recoveries increased by 3% compared with 2011 as a result of flotation optimization. Gold equivalent ounces produced and sold were 11% and 12% lower, respectively, compared with 2011, primarily due to lower tonnes processed and gold grades, offset partially by higher recoveries. Gold equivalent ounces sold in 2012 exceeded production due to timing of shipments. Metal sales declined by 7% in 2012 compared with the same period in 2011, due to the decrease in gold equivalent ounces sold, partially offset by an increase in metal prices realized. Production cost of sales increased by 1% compared with 2011, primarily due to increases in labour and reagent costs as a result of processing lower grade ore, offset largely by lower gold equivalent ounces sold. Depreciation, depletion and amortization were lower by 9% compared with 2011, primarily due to the decrease in gold equivalent ounces sold. MDA22 KINROSS GOLD 2012 ANNUAL REPORT Kupol (100% ownership and operator) – Russian Federation (a) Years ended December 31, 2 012 Operating Statistics Tonnes ore mined (000's) (b) Tonnes processed (000's) (b) Grade (grams/tonne): Gold Silver Recovery: Gold Silver Gold equivalent ounces: (b),(c) Produced Sold Silver ounces: (b) Produced (000's) Sold (000's) Financial Data (in millions) Metal sales Production cost of sales Depreciation, depletion and amortization Exploration and business development Other Segment operating earnings 2011 % Change (d) Change 1,260 1,299 1 ,287 1 ,238 (27) 61 (2%) 5% 12.06 169.59 1 3.37 1 95.31 (1.31) (25.72) (10%) (13%) (0.3%)...
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