is a Canadian-based gold mining company with mines and
projects in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania, the Russian Federation
and the United States, employing approximately 9,000 people worldwide.
Kinross maintains listings on the Toronto Stock Exchange (symbol: K)
and the New York Stock Exchange (symbol: KGC).
Our Core Purpose
To lead the world in generating
value through responsible mining
Putting people first
Outstanding corporate citizenship
High performance culture
Rigorous financial discipline
LETTER TO SHAREHOLDERS
TEAM AND DIRECTORS
All ﬁgures in this report are in U.S. dollars and from continuing operations, unless otherwise stated.
“Attributable” includes Kinross’ share of Kupol (75% up to April 27, 2011, 100% thereafter) and Chirano (90%) production.
“Adjusted net earnings from continuing operations attributable to common shareholders”, “Adjusted net earnings from continuing
operations per share”, “Adjusted operating cash ﬂow from continuing operations”, “Attributable production cost of sales from continuing
operations per equivalent ounce sold” and “All-in sustaining cost” ﬁgures used throughout this report are non-GAAP ﬁnancial measures.
For the deﬁnition and reconciliation of these non-GAAP measures, refer to Section 11, Supplemental Information of Management’s
Discussion and Analysis, in this report. Adjusted operating cash ﬂow per share, also a non-GAAP measure, is deﬁned as “adjusted operating
cash ﬂow” divided by the “weighted average number of common shares outstanding (basic)”. The weighted average number of common
shares outstanding (basic) during the year ended December 31, 2012 was 1,139.1 million (2011: 1,136.0 million; 2010: 824.5 million).
The comparative ﬁgures have been recast to exclude Crixás’ results due to its disposal on June 28, 2012.
Reported net loss includes an after-tax non-cash impairment charge of $3,206.1 million in 2012 (2011: $2,937.6 million; 2010: $Nil;
2009: $Nil; 2008: $994.1 million).
Figures reported for 2008 and 2009 have not been restated to conform with International Financial Reporting Standards and are
presented in accordance with Canadian generally accepted accounting principles.
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