On August 10th, Kinross announced it had completed the sale of its Chirano mine in Ghana to Asante Gold Corporation for US$225 million in cash and shares.
For more information, view the news release here.
“With the completion of the sale of Chirano, we are focused on generating value from our rebalanced portfolio, with approximately 70% of our production in 2022 expected from our mines in the Americas,” said J. Paul Rollinson, President and CEO. “We would like to thank our employees at Chirano for their hard work and contributions to the Company. The team at Chirano exemplifies our commitments to safety, environmental stewardship and generating benefits for local communities. We are also pleased we are able to continue to participate in Chirano’s success through our shareholdings in Asante, who also owns the neighbouring Bibiani mine, which recently completed its first gold pour after restarting operations.”
As we look ahead, Kinross remains in excellent position to create value – we have a strong balance sheet, expect to generate robust cash flow over the coming years, and have a promising pipeline of growth projects.
