64 3 018 65 018 236369 237294 1 5394 1 5258 0

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Unformatted text preview: 84.8 22.1 188.1 0.8 8.4 1 78.9 $ $ 3 64.7 1 05.5 1 9.2 2 40.0 0 .3 0 .5 2 39.2 $ $ 3 0.3 7 9.3 2 .9 (51.9) 0 .5 7 .9 (60.3) 20% (0%) (22%) 0% 3% 8% 75% 15% (22%) 167% nm (25%) Due to the nature of heap leach operations, point-in-time recovery rates are not meaningful. "nm" means not meaningful. Kinross acquired its original 50% interest in the Maricunga open pit mine (formerly known as the Refugio mine), located 120 kilometres northeast of Copiapó, Chile in 1998. On February 27, 2007, Kinross acquired the remaining 50% interest in Maricunga through the acquisition of Bema. 2012 vs. 2011 Tonnes of ore mined were 20% higher compared with 2011 due to mine sequencing. Gold equivalent ounces produced were in line with 2011, primarily due to improved metallurgical release, offset largely by the planned decline in gold grades. During 2012, gold equivalent ounces sold exceeded production due to timing of shipments. Metal sales increased by 8% compared with 2011 due to higher metal prices realized and an increase in gold equivalent ounces sold. Production cost of sales were 75% higher compared with 2011 due to lower grades, higher labour cost and increased consumables to draw additional ounces out of the heap leach pad. During 2012, depreciation, depletion and amortization were 15% higher compared with 2011, largely due to an increase in the depreciable asset base and an increase in the gold equivalent ounces sold. MDA26 KINROSS GOLD 2012 ANNUAL REPORT Tasiast (100% ownership and operator) – Mauritania Years ended December 31, 2 012 2011 Operating Statistics Tonnes ore mined (000's) Tonnes processed (000's) (a) Grade (grams/tonne) (b) Recovery (b) Gold equivalent ounces: Produced Sold Financial Data (in millions) Metal sales Production cost of sales Depreciation, depletion and amortization Impairment charges Exploration and business development Other Segment operating loss 2 3,578 13,600 1.57 89.0% Change 1 1,836 1 1,454 2 .02 88.4% % Change 1 1,742 2 ,146 (0.45) 0.6% 99% 19% (22%) 1% 185,334 17...
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This document was uploaded on 03/30/2014.

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