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Market: TSX
Sector: Gold Mining
Epic: TSX:K
News: Latest news
Web Site: Kinross Gold Corp
Other Articles: 05-05-201027-04-201006-04-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Kinross Gold Corp

Kinross Gold Corp

Kinross Gold Corporation was established in 1993 and has since grown to become the third largest primary gold producer in North America by reserves.  Based in Canada, with nine mines in stable countries including the United States, Brazil, Chile and Russia, Kinross employs more than 5,000 people worldwide
Friday, March 20, 2009

Kinross Gold to buy stakes in Harry Winston and Diavik diamond mine for US$150 million

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Harry Winston Diamond Corp said that Kinross Gold Corp is taking a 9 percent indirect stake in the Diavik diamond mine and acquire a 19.9 percent stake in Harry Winston for US$150 million.

Under the deal, Kinross will subscribe for 15.2 million Harry Wilson treasury shares at US$3 each, and will pay just under US$105 million for a 22.5 percent holding in the partnership that controls Harry Winston's 40 percent interest in the Diavik diamond mine joint venture operated by Rio Tinto PLC.

Harry Winston said it will use the money to repay debt and for general corporate purposes, including the company’s share of the capital costs to complete the underground expansion of Diavik.

"We are acting on a rare opportunity to acquire a stake in one of the world's great diamond mines, operating in northern Canada, with a long mine life and a record of strong cash flows," Kinross president and CEO Tye Burt was cited as saying. "For Kinross, this represents a strategic investment that is accretive and has the potential to create excellent long-term value for our investors," he added.

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