The Kinross Gold Corporation is among the largest North American gold producers, with revenue of $1.617 million for 2008. The company is engaged in the production of silver and gold, shipped to refineries for further processing. Its shares are listed under the symbol KGS at the NYSE and under the symbol G at the TSE. The company is a Tier 1 gold producer.
Incorporated in 1993, Kinross Gold processed 0.025 million ounces of gold during the following year. The company joined the gold mining business with the acquisition of 24 percent interest in the Denton-Rawhide Mine in Nevada. Soon afterwards, Kinross Gold made two winning investments. The company acquired the Zimbabwean mining operations Falconbridge Gold. Together with this deal, Kinross Gold purchased the Ontario-based Hoyle Pond Mine. In 1995, the company owned eight gold mines in Canada, the United States, and Zimbabwe. The 1998 merger with the Amax Gold led to the acquisition of the Alaskan Fort Knox, half of the interest in the Kubaka Mine in Russia and the Refugio Mine in Chile. The merger boosted Kinross Gold annual output to the impressive 1.1 million ounces of gold.
Kinross Gold operates three mining sites in the USA. The operational capacity of the Buckhorn site in Washington is between 0.02 and 0.03 million ounces per year. Currently in expansion phase, the Fort Knox is expected to produce 0.37 million ounces of gold per year. The Round Mountain in Nevada holds proven and probable reserves of 1.6 million ounces. The company also operates two Brazilian sites. The Crixas underground mine in the state of Goias stores 0.36 million ounces of proven and probable reserves. Located in the Gerais state, the Paracatu open pit mine is expected to produce 0.2 million ounces of gold. The La Coipa mine in Northern Chile has 0.6 million ounces of proven and probable reserves. The site will commence production in 2011. The Maricunga site in Northern Chile has a reserve of 6.5 million ounces. The Kupol Mine in Eastern Russia is expected to produce up to 0.39 million ounces annually. The Cerro Casale in Atacama has a large 10 million deposit of gold. The initial exploration of the Fruta del Norte in Ecuador revealed 13.7 million ounces.