The sale closed on june 28 2012 and crixs has been

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Unformatted text preview: periods. The gross proceeds of the sale totaled $220.0 million. Net earnings from Crixás up to the date of disposal were $43.9 million, inclusive of an after-tax gain on disposal of $33.8 million. The results for the year ended December 31, 2012 include the results of operations of Crixás to June 28, 2012. Years ended December 31, 2 012 2011 % Change (b) Change Operating Statistics Tonnes ore mined (000's) (a) Tonnes processed (000's) 586 (a) 1 ,212 (626) (52%) 584 (586) (50%) 3 .81 (0.19) (5%) 91.2% Recovery 1 ,170 3.62 Grade (grams/tonne) 92.7% (1.5%) (2%) Gold equivalent ounces: Produced 30,994 6 6,583 (35,589) (53%) Sold 32,764 6 3,757 (30,993) (49%) (47.1) (47%) Financial Data (in millions) Metal sales $ 53.7 $ 1 00.8 $ Operating expenses 37.1 6 7.8 (30.7) (45%) Operating earnings 16.6 3 3.0 (16.4) (50%) 0 .9 113% Other expenses (income) 0.1 Net earnings before disposal (0.8) 16.5 Income tax expense 3 3.8 (17.3) (51%) 6.4 1 4.0 (7.6) (54%) Net earnings before disposal - after tax 10.1 1 9.8 (9.7) (49%) Gain on sale of discontinued operations 96.2 - 9 6.2 Income tax on sale of discontinued operations (62.4) - (62.4) Net earnings from discontinued operations $ 43.9 $ 19.8 $ 24.1 nm nm 122% (a) Tonnes of ore mined/processed represents 100% of mine production. (b) "nm" means not meaningful. The significant decreases in production statistics and financial data are due to the disposal of Crixás in the second quarter of 2012. KINROSS GOLD 2012 ANNUAL REPORT MDA29 Impairment charges Years ended December 31, (in millions) Impairment charges 2012 $ 2012 vs 2011 2011 3,527.6 $ Change 2 ,937.6 $ % Change 5 90.0 20% The Company completed its annual assessment of the carrying value of its CGUs for the year ended December 31, 2012, and as a result, recorded after-tax non-cash impairment charges aggregating $3,206.1 million, comprised of $3,094.8 million at Tasiast and $111.3 million at Chirano. The impairment charge at Tasiast included a charge of $2,130.3 million related to goodwill and $964.5 million related to property...
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