Across Kinross, we aim to generate socio-economic value for our host countries and communities. We work to meet this goal by providing local employment opportunities, making tax payments, hiring local suppliers and providing additional local economic development opportunities.
At our Paracatu mine in Brazil, our team had a strong year in 2020 generating value in the country. Over the course of the year, the operation reached a significant milestone of R$973 million (~US$189 million) contributed towards Brazil, Minas Gerais and the city of Paracatu.
These contributions were spread across a variety of streams including R$435 million (US$105 million) towards 144 local businesses that provided services and materials to the Company. The mine also added 380 new jobs to its workforce – increasing their workforce by 20% with 90% being locals from the city of Paracatu.
“We are proud of the positive impact we made in 2020 and to have reached the milestone of R$973 of contribution in taxes, royalties and procurement,” said Gilberto Azevedo, President and General Manager, Kinross Brazil. “We believe one the most significant positive impacts we can make in our operating regions is to generate strong economic value and provide long-term opportunities and improvements that will leave a lasting impact and further develop our region to its strongest potential. Our work is not done, and we hope to continue building on last year’s success for years to come.”