45 grams per tonne during 2011 due to the nature of

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Unformatted text preview: ap leach operations, point-in-time recovery rates are not meaningful. The Company acquired its ownership interest in the Round Mountain open pit mine, located in Nye County, Nevada, with the acquisition of Echo Bay Mines Ltd. ("Echo Bay") on January 31, 2003. 2012 vs. 2011 Tonnes of ore mined decreased by 25% compared with 2011 due to planned mine sequencing. Tonnes of ore processed were 21% lower in 2012 compared with 2011 due to a decline in tonnes of ore mined, which resulted in less tonnage being placed on the heap leach pads, offset partially by an increase in mill throughput. Mill and heap leach grades were lower in 2012 compared with 2011 due to planned mine sequencing. During 2012, gold equivalent ounces produced and sold were 3% higher compared with 2011, primarily due to improved leach performance, partially offset by a decrease in tonnes processed and lower gold grades. Metal sales were 8% higher in 2012 compared with 2011 due to higher metal prices realized and an increase in gold equivalent ounces sold. Production cost of sales increased by 6% compared with 2011, primarily due to an increase in gold equivalent ounces sold, and higher labour, reagent, and royalty costs, offset partially by lower contractor costs. Depreciation, depletion and amortization were 2% lower than in 2011, primarily due to an increase in mineral reserves at December 31, 2011, offset partially by an increase in gold equivalent ounces sold. KINROSS GOLD 2012 ANNUAL REPORT MDA21 Kettle River–Buckhorn (100% ownership and operator) – USA Years ended December 31, 2 012 2011 Operating Statistics Tonnes ore mined (000's) Tonnes processed (000's) Grade (grams/tonne) Recovery Gold equivalent ounces: Produced Sold Financial Data (in millions) Metal sales Production cost of sales Depreciation, depletion and amortization Exploration and business development Other Segment operating earnings 386 405 13.27 92.1% 4 50 4 43 1 3.77 89.2% 156,093 156,966 $ $ 260.1 7 5.6 73.9 110.6 18.0 2.4 90.2 1 75,292 1 78,26...
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