Kinross Gold Corporation · TSX:K
Kinross Gold — BMO Capital Markets 2010 Global Metals & Mining Conference
23 slides from Kinross Gold's conference presentation, Mar 2, 2010
Slide 1: Delivering Disciplined Growth
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Delivering Disciplined Growth BMO Capital Markets 2010 Global Mining & Metals Conference Hollywood, H ll d FL March 2, 2010 Cautionary Statement on Forward‐Looking Information All statements, other than statemen
Slide 2: Why Kinross? The Kinross Evolution
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Why Kinross? • Growing cash flow – Production has risen while margins have expanded – CFPS(1): 5 yr CAGR : 25% – Strong balance sheet: $632.4 mm • Pipeline of future opportunities Kinross Today – Increasing rese
Slide 3: Declining world supply from mine production
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Declining world supply from mine production 2001: Peak Production 3,000 Other Big Four* 2,500 2,000 Tonnes 1,500 1,000 500 0 1969 1974 1979 1984 1989 1994 1999 2004 2009e * South Africa, United States, Australia
Slide 4: World Gold Reserves and Resources
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 World Gold Reserves and Resources Total Reserves & Resources Top Countries (mm ozs) (tonnes) Total Reserves & Brazil Chile Country % Resources United States 1. South Africa 997 29.7% Russia South Africa 2. Russi
Slide 5: Focused Portfolio in Five Countries
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Focused Portfolio in Five Countries Portfolio of Mines and Projects Chile United States • Maricunga • Fort Knox • La Coipa • Kettle River‐Buckhorn • Lobo‐Marte • Round Mountain • Cerro Casale Brazil Russ
Slide 6: Expanding Margins: +27% 5-yr CAGR
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Expanding Margins: +27% 5‐yr CAGR 2004 – 2009: $530 • Average realized gold price: +139% • Kinross’ Ki ’ attributable tt ib t bl costt off sales i (7): +229% l margin $436 +229% Costt of Sales Margin ($/oz.) $32
Slide 7: Gold Resource Growth
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Gold Resource Growth(2) Inferred Resources 140.0 80.0 Measured & Indicated Resources Proven and Probable Reserves 16.2 Total resource ounce per 1,000 shares (3) 21.2 120.0 70.0 7.0 Total Resources (mm oz.) 60.0
Slide 8: Highlights from Q4 2009
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Highlights from Q4 2009 Q4 ‘09 Highlights • Production increased to 613,858 Au eq. oz. (up 12% from Q4’08) • Cost of sales(5): $437/oz (co‐product); $383/oz (by‐product) • Record cost of sales margin(7) of $657/
Slide 9: 2009 Full-Year Results
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 2009 Full‐Year Results COS Margin(6) Realized +9% (7) (in millions, except ounces and 2008 2009 % Change COS Margin Gold Price $492/oz per share amounts) +22% +13% 13% $530/oz Gold equivalent production $967/oz
Slide 10: Pipeline of Projects for the Future
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Pipeline of Projects for the Future Paracatu 3rd ball mill • Further organic growth at our mines • Advancing next suite of projects • Exploration & JV strategies 19 At‐Site Growth Opportunities Paracatu, Brazil
Slide 11: Kinross to Acquire High-grade Kupol Satellite Deposit
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Kinross to Acquire High‐grade Kupol Satellite Deposit • Acquiring 100% of the Dvoinoye deposit and Vodorazdelnaya concession(9) o High High‐grade grade deposit ~90 90 km north of Kupol Dvoinoye deposit & o Estim
Slide 12: Dvoinoye Directly Aligns with Kinross Strategy
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Dvoinoye Directly Aligns with Kinross Strategy Located in a core region: Chukotka High‐grade deposit Leverages existing infrastructure, operating and technical expertise Potential to optimize Kupol mill
Slide 13: Update on Cerro Casale
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Update on Cerro Casale La Coipa • Agreement to sell down from 50% to 25%: o Total value: $475 mm L b M t Lobo‐Marte ~110 km • Rebalances Cerro Casale in our overall portfolio, reduces future capital and increase
Slide 14: The Lobo Pit & Infrastructure
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 The Lobo Pit & Infrastructure Pit Primary Mine Crusher Facilities Camp Heap Leach pad Process Facilities 27 The Marte Pit Pit To crusher at Lobo ~5 km 28 14
Slide 15: Fruta del Norte, Ecuador
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Fruta del Norte, Ecuador • 18,000 metre drill campaign in 2010 • Expected to be completed by Q3 2010 Quito • Pre‐feasibility expected by year‐end • Environmental Impact Statements to be submitted in Q2 2010 for
Slide 16: La Coipa: District Wide Potential
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 La Coipa: District Wide Potential • District‐wide exploration package consisting approximately 60,000 ha o Cominor JV: 50/50 ownership ESPERANZA between Kinross and private CHIMBEROS ESTE party; completed geophy
Slide 17: BMO: P / 6% NAV; P / 2010 CFPS
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 BMO: P / 6% NAV 1.7 1.4 1.3 1.2 1.1 09 0.9 AEM GG KGC ABX NEM AUY Source: BMO Gold Pages – February 19, 2010 33 BMO: P / 2010 CFPS 18.1 17.3 13.1 9.5 8.6 8.3 GG AEM KGC ABX AUY NEM Source: BMO Gold Pages – Febru
Slide 18: Key Objectives for 2010
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Key Objectives for 2010 Declare increased reserves Complete Lobo‐Marte pre‐feasibility study Final feasibility study for Cerro Casale Close sale of 25% of Cerro Casale Complete Maricunga Expansion
Slide 19: Fort Knox, USA (100%)
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Appendix pp 37 Fort Knox, USA(100%) • Located in Alaska • Expansion and new heap leach to extend mine life • M t i lb Material being i stacked t k d on new pads d Operating Results Production Cost of Sales (Au e
Slide 20: Round Mountain, USA; Kettle River, USA
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Round Mountain, USA (50%) • Kinross‐operated JV with Barrick • Located in Nevada, USA • Open pit mine Operating Results Production Cost of Sales (Au eq. oz) ($/oz) 2009 213,916 $517 2008 246,946 $465 2009 Gold R
Slide 21: Kupol, Russia; Paracatu, Brazil
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Kupol, Russia (75%) • 3,000 tpd mill with open‐pit and underground operation • 2009 first full year of production Operating Results Production Cost of Sales (Au eq. oz) ($/oz) 2009 694,130 $257 2008 469,907 $220
Slide 22: Crixas, Brazil; La Coipa, Chile
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Crixas, Brazil (50%) • JV with AngloGold Ashanti • Underground mine located in the Brazil Operating Results Production Cost of Sales (Au eq. oz) ($/oz) 2009 74,654 $412 2008 87,669 $302 Reserves and Resources(3)
Slide 23: Maricunga, Chile (100%)
Kinross Gold Corporation BMO Capital Markets 2010 Global Mining Conference March 2, 2010 Maricunga, Chile (100%) • Located the highly prospective Maricunga District • Open pit, heap leach operation • Expansion under review Operating Results Production Cost of Sales (Au eq. oz) ($/oz) 2009 233,585 $5
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