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by IFRS 13.
In October 2010, the IASB issued IFRS 9 “Financial Instruments” (“IFRS 9”) which proposes to replace IAS 39
“Financial Instruments: recognition and measurement”. The replacement standard has the fol lowing
significant components: establishes two primary measurement categories for financial assets — amortized
cost and fair value; establishes criteria for classification of financial assets within the measurement category
based on business model and cash flow characteristics; and eliminates existing held to maturity, availablefor-sale, and loans and receivable categories.
IFRS 9 is effective for annual periods beginning on or after January 1, 2015 (as amended from January 1,
2013 by the IASB in December 2011). The Company will evaluate the impact of the change to its consolidated
financial statements based on the characteristics of its financial instruments at the time of adoption. 10. RISK ANALYSIS
The business of Kinross contains significant risk due to the nature of mining, exploration, and development
activities. Certain risk factors listed below are related to the mining industry in general while others are specific
to Kinross. Included in the risk factors below are details on how Kinross seeks to mitigate these risks wherever
possible. For additional discussion of risk factors please refer to the Company's Annual Information Form for
the year ended December 31, 2011, which is available on the Company's website www.kinross.com and on
www.sedar.com or is available upon request from the Company, and to the Company’s Annual Information
Form for the year ended December 31, 2012, which will be filed on SEDAR. Gold Price and Silver Price
The profitability of Kinross' operations is significantly affected by changes in the market price of gold and
silver. Gold and silver prices fluctuate on a daily basis and are affected by numerous factors beyond the
control of Kinross. The price of gold and/or silver can be subject to volatile price movements and future
serious price declines could cause continued commercial production to be impractica...
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This document was uploaded on 03/30/2014.
- Spring '14