49 for the entire three year period kinross gold 2012

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Unformatted text preview: price Chilean peso forward buy contracts (in millions of U.S. dollars) Average price Russian rouble forward buy contracts (in millions of U.S. dollars) Average price Canadian dollar forward buy contracts (in millions of U.S. dollars) Average price Swiss franc forward sell contract (in millions of U.S. dollars) Average price 2013 2014 2015 Total 383.3 1.99 222.5 2.16 88.0 2.34 693.8 2.09 110.4 514.91 33.0 553.56 - 143.4 523.80 87.0 32.63 48.0 34.69 25.0 36.05 160.0 33.78 129.0 1.02 48.0 1.04 - 177.0 1.02 11.0 0.93 - - 11.0 0.93 During 2012, the following new forward buy/sell derivative contracts were engaged: $483.3 million at an average rate of 2.12 Brazilian reais, with maturities in 2012, 2013, 2014 and 2015; $65.4 million at an average rate of 510.15 Chilean pesos, with maturity in 2013; $94.0 million at an average rate of 34.46 Russian roubles, with maturities in 2013, 2014 and 2015; $171.0 million at an average rate of 1.03 Canadian dollars, with maturities in 2012, 2013 and 2014; and $11.0 million at an average rate of 0.93 Swiss francs, with maturity in 2013. At December 31, 2012, the unrealized gain or loss on the derivative contracts recorded in AOCI is as follows: Brazilian real forward buy contracts – unrealized loss of $18.6 million (December 31, 2011 – $29.8 million loss); Chilean peso forward buy contracts - unrealized gain of $6.8 million (December 31, 2011 – $16.0 million loss); Russian rouble forward buy contracts – unrealized gain of $5.6 million (December 31, 2011 – $6.4 million loss); and Canadian dollar forward buy contracts – unrealized gain of $4.4 million (December 31, 2011 – $2.2 million loss). (iii) Gold and silver forward contracts The Company had gold and silver derivative instruments acquired from an acquisition in 2007, primarily related to Kupol financing requirements, which the Company closed out and early settled in the third quarter of 2011. FS40 KINROSS GOLD 2012 ANNUAL REPORT (iv) Energy forward contracts The Company is expo...
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This document was uploaded on 03/30/2014.

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