This preview shows page 1. Sign up to view the full content.
Unformatted text preview: ductions is the elimination of the obligation related to the Crixás mine. See Note 6(i).
Included in other operating costs for the year ended December 31, 2012 is a $10.8 million charge (year ended
December 31, 2011 – $15.7 million) reflecting revised estimated fair values of costs that support the reclamation
and remediation obligations for properties that have been closed. The majority of the expenditures are expected
to occur between 2013 and 2056. The discount rates used in estimating the site restoration cost obligation were
between 0.2% and 10.4% for the year ended December 31, 2012 (year ended December 31, 2011 - 0.1% and
11.1%), and the inflation rate used was between 1.5% and 7.5% for the year ended December 31, 2012 (year
ended December 31, 2011 - 1.4% and 5.6%).
Regulatory authorities in certain jurisdictions require that security be provided to cover the estimated
reclamation and remediation obligations. As at December 31, 2012, letters of credit totaling $204.0 million
(December 31, 2011 – $170.8 million) had been issued to various regulatory agencies to satisfy financial
assurance requirements for this purpose. The letters of credit were issued against the Company's Letter of Credit
guarantee facility with Export Development Canada, the corporate revolving credit facility, and pursuant to
arrangements with certain international banks. The Company is in compliance with all applicable requirements
under these facilities. FS50 KINROSS GOLD 2012 ANNUAL REPORT 15. COMMON SHARE CAPITAL AND COMMON SHARE PURCHASE WARRANTS
The authorized share capital of the Company is comprised of an unlimited number of common shares without par
value. A summary of common share transactions for the years ended December 31, 2012 and 2011 is as follows: Year ended
December 31, 2012
Number of shares
Balance at January 1,
On acquisition of properties
Under employee share purchase plan
Under stock option and restricted share
Under Aurelian options
Under Bema options
Under Underworld options
Under Red Back options
Balance, at end of period
Common share purch...
View Full Document
This document was uploaded on 03/30/2014.
- Spring '14