Gold miner Kinross says its Russian operations unaffected by U.S. sanctions

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Published February 23, 2022 at 8:50 am

TORONTO — Kinross Gold Corp. says its operations in Russia are unaffected by U.S. sanctions announced on Tuesday.

The Toronto-based gold miner operates the Kupol mine in the Chukotka region in the northeastern corner of Russia.

Canada, the United States and other counties imposed sanctions on Russian banks, officials and business leaders after the country sent soldiers into eastern Ukraine.

Kinross noted it has successfully operated in Russia for more than 25 years and has previously managed through similar situations.

In addition to the Kupol mine, Kinross has the Udinsk project in Russia.

Kinross, which also has mines and projects in the U.S., Brazil, Mauritania, Chile and Ghana, says it expects about 13 per cent of its global production this year to come from Russia. 

This report by The Canadian Press was first published Feb. 23, 2022.

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The Canadian Press

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