Under the joint venture agreement between the company

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Unformatted text preview: and approves major transactions prior to execution by site management. The joint venture owners are entitled to their pro-rata share of production and are obliged to make their pro-rata share of contributions as requested. As at December 31, 2011, the Company had joint venture interests in Round Mountain and Crixás. On June 28, 2012, the Company sold its interest in the Crixás mine and its results have been presented separately as a discontinued operation. See Note 6(i). KINROSS GOLD 2012 ANNUAL REPORT FS35 The following table contains selected financial information on Kinross’ consolidated share of participation of Round Mountain as at and for the years ended December 31, 2012 and 2011. For the years ended December 31, 2 012 Metal sales $ Production cost of sales Depreciation, depletion and amortization Exploration and business development Other Operating earnings Current assets Property, plant and equipment Goodwill Deferred charges and other long-term assets 2011 317.2 $ (136.7) (28.2) (1.1) (129.2) (28.7) (0.6) $ $ 151.2 2 95.0 $ (0.9) 1 35.6 As at December 31, 2 012 2011 3 7.5 $ 3 8.3 2 50.8 2 03.4 5 8.7 5 8.7 1 2.5 1 1.4 $ 3 59.5 $ 2 1.3 5 3.3 4 4.0 $ 7 4.6 $ 6 6.3 $ 2 84.9 $ 2 45.5 Current liabilities Non-current liabilities Net investment in joint venture Contingent liabilities and capital commitments related to joint ventures are included in Note 20. FS36 KINROSS GOLD 2012 ANNUAL REPORT 3 11.8 2 2.3 10. INVESTMENT IN ASSOCIATE The Company holds a 25% interest in the Cerro Casale project. The investment is accounted for under the equity method and had the following carrying values: December 31, 2012 Cerro Casale $ 5 15.8 December 31, 2011 $ 5 02.5 There are no publicly quoted market prices for Cerro Casale. The following table contains summarized financial information for the Company’s investment in Cerro Casale: Statement of Operations Revenue Other expenses Income tax recovery Net loss For the years ended December 31, 2 012 2011 $ $ 31.7 1 1.4 (5.9) (...
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