Licenses and permits the operations of kinross

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Unformatted text preview: oss will be able to obtain or maintain all necessary licenses and permits that may be required to explore and develop its properties, commence construction or operation of mining facilities and properties under exploration or development or to maintain continued operations that economically justify the cost. Kinross endeavors to be in compliance with these regulations at all times. The Federal Public Attorney (“FPA”) in Brazil fil ed a lawsuit relating to the rights of the Quilombola people in connection with the lands being used to construct the Eustaquio tailings facility at Paracatu. As part of the lawsuit, the FPA had applied for an injunction seeking to enjoin the issuance by the state authority of the permit to operate the Eustaquio tailings facility. The FPA’s injunction was d enied, the permit to operate was issued and the Eustaquio tailings facility has been operating since July 2012. However, the lawsuit is pending and, if successful, it is possible that the license to operate could be suspended in the future. If the FPA’s lawsuit is successful and the license to operate is suspended, the appeal process is expected to take up to six months. The Company continues to vigorously oppose the lawsuit and, if the Company is unsuccessful, it will vigorously pursue an appeal. The Company believes that the lawsuit by the FPA should not be successful. Title to Properties and Community Relations The validity of mining claims which constitute most of Kinross' property holdings may, in certain cases, be uncertain and subject to being contested. Kinross' titles, particularly title to undeveloped properties, may be defective and open to being challenged by governmental authorities and local communities. Certain of Kinross’ properties may be subject to the rights or the asserted rights of various community stakeholders, including indigenous people. The presence of community stakeholders may also impact on the Company’s ability to develo p or operate its mining properties. In certain circumstances, consultation with such stakeholders may be required and the outcome may affect t...
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This document was uploaded on 03/30/2014.

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