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Kinross Gold Review5 min read

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Kinross Gold Corporation, or Kinross Gold as it is known, is a unique company in the investment world. They don’t just sell gold, silver, and other precious metals, but they are actually out there mining gold. Established in 1993, this Toronto, Canada company is one of the leading names in the gold production market. 

If you’re interested in learning more about this corporation, keep reading this Kinross Gold Review

Everything You Need To Know About Kinross Gold

Here’s a complete rundown of everything that you need to know about the one and only Kinross Gold Company. Allow me to kick things off by sharing the basic company facts…

Who is Kinross Gold?

Founded in 1993, Kinross Gold is a gold mining company based in Canada. They have mine projects across the world, including the U.S., Brazil, Russia, Chile, Ghana, and Mauritania, with over 9,000 employees. Kinross Gold states on their website that they are focused on “delivering value through operational excellence, balance sheet strength, disciplined growth, and responsible mining”. 

They are ranked as fifth-best in the industry as ranked by Investing News and they are continuously ranked as among the best for ethical conduct and sustainability. They pride themselves on their transparency and maintain a reputation for strict conduct and high standards. Some of their accolades include:

  • Safety awards for their continued dedication to worker’s rights and safety protocols
  • Environmental transparency is recognized by the World Wildlife Federation (WWF) where every mine that closes is restored to a safe and stable condition
  • Kinross Gold puts money back into the communities where it works with land procurement, job creation, and favorable taxes

Oh, and with a market cap of more than six and a half-billion dollars, Kinross Gold is a giant in the industry. 

What Kinross Gold Does

As a business, Kinross Gold operates in three ways:

  1. Acquisition of properties where there is gold and other metal ore
  2. Mining community support
  3. Investment opportunities

Acquisition

The central focus of Kinross Gold is the acquisition of gold-bearing properties, including mining, processing, and refining precious metals. Their reserve controls over 24 million ounces of gold and over 55 million ounces of silver that were produced in Kinross Gold mines has entered the international precious metals market. 

Mining Support

Kinross Gold thinks highly of its miners and works to promote safety, ethical mining practices, sustainability, and sets standards for the company to make money as well as ensure that the community receives benefits. Their mines are award-winning for their environmental practices, including awards from organizations like the WWF. 

Investments

Kinross Gold is publicly traded, which means investors can buy stocks in the company and make trades. While gold values will constantly fluctuate, investing in gold remains a smart and popular option for both novice and experienced investors alike. 

Where Are the Mines of Kinross Gold Located?

Kinross Gold operates mines on four continents. Let’s start with the United States.

United States

The U.S. gold mines generate more than a quarter of the income for Kinross Gold. Operations for Kinross include the following areas:

  • Fort Knox-Yes, that Fort Knox. Over the last 20 years, Fort Knox has poured more than 8 million ounces of gold and is recognized as an exemplary operation that has been recognized by the National Mining Association (NMA) for excellence in its safety protocol. 
  • Bald Mountain, Nevada-Bald Mountain is a newer addition to the Kinross Gold family and is the single largest private mine in the U.S. It is expected that Bald Mountain will produce over 3.5 million ounces of gold. 
  • Round Mountain, Nevada-Since 2003, Round Mountain has been the most lucrative mine in Kinross Golds’ collection, producing more than 15 million ounces of ore. It became a Kinross Gold-exclusive mine in 2018. 

South America

Currently, Kinross Gold has two South American mines, with only one currently producing. Paracatu in Brazil is the largest in Brazil and is an open-pit mine. Their Chilean mine, La Coipa, is currently out of commission but set to begin mining in 2022 after some refurbishments.

Russia

Mines in Russia have accounted for a fifth of Kinross Gold’s total revenue in the past 25 years. Russian mines are of great value because of their low operating costs. The two mines that Kinross Gold owns in Russia are the following:

  • Dvoinoye-The Dvoinoye mine ran until the year 2020. Mines, like anything else in life, can only be kept going for so long before it needs to rest. This mine was a very successful mine for many, many years, and produced substantial amounts of ore. While mining has ceased, processing continues and will likely continue until 2024.
  • Kupol-The bulk of Kinross Golds production and processing occurs in Kupol. The life expectancy of this mine is 2025 and the company has been approved for a new mine in Udinsk by 2025. 

Africa

African gold mines operate at a lower cost than anywhere else in the world. They also maintain the highest safety and quality. The mines in Africa include:

  • Ghana-The mine in Chirano, Ghana is partially owned by the Ghanian government (10%) until 2025. It is located just outside the most-populated city in Ghana and has created numerous jobs for the people of that area. 
  • Mauritania-The Tasiast, Mauritania mine continues to be a giant in the precious metals industry and sets records for its high production with low prices. 

The Final Verdict on Kinross Gold

Like other industries, the gold industry took a bit of a hit in 2020. Gold reached a record high, which was great for investors, but not so much for buyers, causing the retail market to suffer a bit. But, as the year 2020 closed out, gold had gotten back on track. It is still considered an undervalued investment choice, but for those “in the know”, it continues to be accessible and a wise choice to diversify your portfolio.

Kinross Gold is a giant in the gold world, with its mines producing over 100 million ounces of gold and counting. With their professional operations, stellar reputation, strong ethical beliefs, and the care they have for everyone involved in the company, from the bottom up, it is easy to see why investors are clamoring to be involved with Kinross Gold.

About 

Edwin Cannon has spent his entire career in the financial industry and specializes in alternative investments and surviving marketing turbulence. He started My Retirement Paycheck to help educate consumers about retirement investment options that aren't typically introduced by advisors.