7 million additions to short term investments of 3485

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Unformatted text preview: ther assets of $213.4 million, which were partially offset by the net proceeds of $101.4 million received on the sale of Kinross’ interest in Harry Winston and $70.0 million collected on the note receivable from Harry Winston. KINROSS GOLD 2012 ANNUAL REPORT MDA33 The following table provides a breakdown of capital expenditures from continuing operations on a cash basis: Years ended December 31, (in millions) 2012 2012 vs 2011 2011 Change % Change Operating segments Fort Knox $ Round Mountain 114.7 $ 1 03.5 $ 1 1.2 11% 66.2 4 8.2 1 8.0 9.4 1 3.4 (4.0) (30%) Kupol 163.9 1 95.9 (32.0) (16%) Paracatu 284.5 3 39.4 (54.9) (16%) La Coipa 71.4 6 4.6 6 .8 11% Maricunga 120.7 1 49.3 (28.6) (19%) Tasiast 8 66.2 4 69.2 3 97.0 85% Chirano 100.3 9 4.3 6 .0 6% Kettle River-Buckhorn 37% Non-operating segments Fruta del Norte 65.6 9 0.7 (25.1) Corporate and Other (a) 61.8 6 0.7 1 .1 2% 2 95.5 18% Total $ 1,924.7 $ 1 ,629.2 $ (28%) (a) "Corporate and Other" includes corporate and other non-operating assets (including Lobo-Marte and White Gold). Capital expenditures for 2012 increased by $295.5 million compared with 2011. The increase in capital expenditures resulted primarily from the Tasiast expansion project, partially offset by reduced spending on expanding Plant 2 at Paracatu, lower spending at Maricunga due to completion of the SART plant, and decreases in capital expenditures at Kupol due to the timing of expenditures on the Dvoinoye development. Financing Activities 2012 vs. 2011 Net cash of continuing operations provided from financing activities was $774.8 million compared with $636.9 million during 2011. During 2012, the Company received $1,541.1 million of proceeds from debt, of which $996.1 million were the net proceeds from the unsecured $1,000.0 million term loan completed in August 2012. The proceeds from debt were partially offset by a repayment of debt of $577.3 million and dividends paid of $182.3 million. During 2011, the Company received $1,608.4 million of proceeds from debt, $980.9...
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This document was uploaded on 03/30/2014.

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