In 2012 metal sales increased by 11 compared with

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Unformatted text preview: in metal prices realized and higher gold equivalent ounces sold. During 2012 production cost of sales increased by 28% compared with 2011, primarily due to lower grades and recoveries, higher labour, consumable, and energy costs and an increase in gold equivalent ounces sold, offset partially by a decrease in contractor costs. Depreciation, depletion and amortization were 41% higher compared with 2011, largely due to an increase in the depreciable asset base. MDA24 KINROSS GOLD 2012 ANNUAL REPORT La Coipa (100% ownership and operator) – Chile Years ended December 31, 2 012 2011 Operating Statistics Tonnes ore mined (000's) Tonnes processed (000's) Grade (grams/tonne): Gold Silver Recovery: Gold Silver Gold equivalent ounces: (a) Produced Sold Silver ounces: Produced (000's) Sold (000's) Financial Data (in millions) Metal sales Production cost of sales Depreciation, depletion and amortization Exploration and business development Other Segment operating earnings Change % Change 2 ,989 5 ,441 2 ,137 4 ,278 8 52 1 ,163 40% 27% 0.75 46.33 0 .71 6 4.02 0 .04 (17.69) 6% (28%) 80.6% 47.8% 78.7% 51.2% 1.9% (3.4%) 2% (7%) 178,867 175,212 $ 5 80 (15,820) 0% (8%) 3,882 3,920 $ 1 78,287 1 91,032 4 ,520 4 ,760 (638) (840) (14%) (18%) 3 7.3 2 3.7 2 1.2 (7.6) (3.6) (3.9) (0.1) 15% 16% 74% (9%) (39%) (91%) (0%) 292.7 1 69.2 49.7 73.8 5.6 0.4 6 7.8 $ $ 2 55.4 1 45.5 2 8.5 8 1.4 9 .2 4 .3 6 7.9 $ $ (a) "Gold equivalent ounces" include silver ounces produced and sold converted to a gold equivalent based on a ratio of the average spot market prices for the commodities for each year. The ratios were: 2012 - 53.56:1, 2011 44.65:1. The Company acquired its original 50% ownership interest in the La Coipa open pit mine in the acquisition of TVX on January 31, 2003. On December 21, 2007 the Company completed an asset Purchase and Sale Agreement with Goldcorp whereby the interests in two Canadian mines were sold and the remaining 50% interest in La Coipa was acquired. Included in the results of La Coipa is its 65% interest in the Puren deposit. 2012 vs. 2011 Tonnes...
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