Kinross Gold Corporation · TSX:K

Kinross Gold — BMO Nesbitt Burns Global Metals & Mining Conference 2008

22 slides from Kinross Gold's conference presentation, Feb 25, 2008

  1. Slide 1: Delivering Disciplined Growth

    Kinross Gold Corporation January 2008 BMO Nesbitt Burns Global Metals & Mining Conference February 24-27th, 2008 DELIVERING DISCIPLINED GROWTH 1 Cautionary Statements All statements, other than statements of historical fact, contained or incorporated by reference in this presentation, including any

  2. Slide 2: The Kinross Difference

    Kinross Gold Corporation January 2008 The Kinross Difference ion d uct g Pro isin R De Increased clin ing Margins, Cash Flow Co s ts & Leverage to Gold Price 3 2008 is a Milestone Year For Kinross ƒ Opening three new gold mines ƒ Growing gold production by 60% through ’09(1) ƒ Reducing cost of sales

  3. Slide 3: Kinross Today

    Kinross Gold Corporation January 2008 Kinross Today ƒ Pure gold and silver producer – Policy of no gold hedging – No base metals credits in financial results ƒ $14 bn market cap. (“K” TSX, “KGC” NYSE) ƒ Recently declared $0.04 / share dividend – first in Kinross history ƒ 1.9 to 2.0 mm ozs of produc

  4. Slide 4: Superior Production Growth Profile

    Kinross Gold Corporation January 2008 Superior Production Growth Profile Mineral Production(1) (mm oz gold equivalent) Growth ~60% 2.5 – 2.6 1.9 – 2.0 1.6 2007 2008E 2009E (1) Refer to final slide endnote #1. 7 2008E Production and Cost of Sales(1) 700 $420 Gold Equivalent Production (OOO ounces) 60

  5. Slide 5: Paracatu Expansion

    Kinross Gold Corporation January 2008 Paracatu Expansion Conveyor Crushing Original plant Stockpile area Grinding Flotation New hydrometallurgy 9 Paracatu Expansion(1,3) ƒ Construction started Aug. 2006 ƒ Expansion to increase throughput to 60 mtpa ƒ On schedule for start-up in July 2008 ƒ Project c

  6. Slide 6: Expanding Paracatu

    Kinross Gold Corporation January 2008 Expanding Paracatu… Grinding & flotation area Stockpile, grinding & flotation area Hydrometallurgy area CIL tanks 11 Kupol Project 12

  7. Slide 7: Kupol Project

    Kinross Gold Corporation January 2008 Kupol Project(1,3) 2005 ƒ Construction started in June 2005 ƒ Open-pit & u/g mining, processing 3,000 tpd ƒ On track to commission: May 2008 ƒ ‘08E production : 365K– 390K gold eq. oz. 2006 ƒ ’08E cost of sales: $235 - $245/oz. ƒ 3.3 mm oz. of gold and 39.6 mm o

  8. Slide 8: Buckhorn Project

    Kinross Gold Corporation January 2008 Buckhorn Project 15 Buckhorn Project(1,3) ƒ Construction started in September 2006 ƒ Development of an underground mine ƒ Will utilize existing Kettle River mill for processing ƒ Production targeted to commence in October 2008 ƒ ‘08E production: 25K – 30K oz. ƒ

  9. Slide 9: Fort Knox Project

    Kinross Gold Corporation January 2008 Buckhorn Project Administration building Main portal area Main portal area Lower portal area 17 Fort Knox Project(4) ƒ Expansion of Fort Knox mine approved Feb’08: – Layback of the existing open pit mine (Phase 7 layback) – Construction of a heap leach facility

  10. Slide 10: Cerro Casale

    Kinross Gold Corporation January 2008 Fort Knox Phase 7 Pit Layback 19 Cerro Casale ƒ One of the largest undeveloped gold-copper deposits in the world ƒ Kinross share: 49% - 2P Reserves(2) 11.2 mm oz Au 2.8 b lbs Cu ƒ Next steps: i) JV agreement with Barrick ii) Decisions on next steps iii) Update f

  11. Slide 11: 2007 Production Cost Chart

    Kinross Gold Corporation January 2008 2007 Production – Cost Chart 2007 Average: $368 / oz Sold Purchased remaining 50% Cost of Sales per Ounce Round Mountain JV Porcupine JV Musselwhite Maricunga Porcupine Coipa Fort Knox Paracatu LaCoipa Julietta Crixas La Percentage of Total Production 21 2009: N

  12. Slide 12: Rationalizing the portfolio

    Kinross Gold Corporation January 2008 Rationalizing the portfolio Kinross (end of ’06) Kinross now Operated Operated Paracatu Paracatu Maricunga Maricunga Fort Knox Kupol Round Mountain Fort Knox Kettle River Round Mountain Kettle River Non-operated La Coipa Julietta Porcupine JV La Coipa Non-operat

  13. Slide 13: Exploration

    Kinross Gold Corporation January 2008 Exploration(5) Successful 2007: ƒ Spent $47 mm on exploration and business development in ‘07 ƒ Added 4.8 mm ozs to reserves (before depletion and net divestitures) Major Initiatives in 2008: ƒ Ixhuatan: $7.5 mm of drilling, target generation ƒ Kupol: Focus on t

  14. Slide 14: 2P Gold Reserves

    Kinross Gold Corporation January 2008 2P Gold Reserves(2) Kinross’ reserves are focused in four high potential districts with rich 18.5 18.4 mining histories. All are districts where Kinross has many years of operating experience. 6.3 3.3 Chile (40%) Brazil (40%) USA (13%) Russia (7%) (2) Refer to f

  15. Slide 15: 2007 Results

    Kinross Gold Corporation January 2008 2007 Results(7) ƒ Produced 1.6 mm oz Au eq. at $368/oz cost of sales ƒ Significantly increased gold, silver & copper reserves ƒ Advanced development projects ƒ Continued optimization of asset portfolio ƒ Strengthened exploration portfolio ƒ Continued drilling &

  16. Slide 16: Industry Wide Costs Increasing

    Kinross Gold Corporation January 2008 Industry Wide Costs Increasing $850 ƒ Gold price has risen steadily, as have the industry’s costs ƒ Industry-wide margins have been constrained Gold Price ($/oz) +22% +17% +8% +14% +23% $250 World Cash Costs - GFMS 2002 2003 2004 2005 2006 2007 Average Source: G

  17. Slide 17: Key objectives for 2008

    Kinross Gold Corporation January 2008 Key objectives for 2008 9Increased reserves organically ‰ 9Strengthened balance sheet with convertible financing ‰ 9Fort Knox optimization approved ‰ 9Dividend declared ‰ ‰ Cerro Casale – plans updated ‰ Kupol start-up (in Q2) ‰ Paracatu expansion start-up (in Q

  18. Slide 18: The Kinross Difference

    Kinross Gold Corporation January 2008 The Kinross Difference ion d uct g Pro isin R De Increased clin ing Margins, Cash Flow Co s ts & Leverage to Gold Price 35 Appendix: 36

  19. Slide 19: Paracatu, Brazil and Round Mountain, USA

    Kinross Gold Corporation January 2008 Paracatu, Brazil (100%) ƒ $540 million expansion project to triple production and reduce costs ƒ Expansion is ~ 80% complete, with 85% capital spent / committed ƒ On target for production in July 2008 ƒ > 33 year mine life Mineralization Tonnes Grade Ounces as a

  20. Slide 20: Maricunga, Chile and Fort Knox, USA

    Kinross Gold Corporation January 2008 Maricunga, Chile (100%) ƒ Reviewing the newly expanded exploration area (18,000 ha) ƒ New drilling and test work being completed this year Mineralization Tonnes Grade Ounces as at Dec.31.07 (x 1,000) (g/t) (x 1,000) 2P Reserves 279,502 0.72 6,445 M&I Resources 1

  21. Slide 21: La Coipa, Chile and Crixas, Brazil

    Kinross Gold Corporation January 2008 La Coipa, Chile (100%) ƒ Low-cost gold-silver production ƒ Puren ore body went from discovery to production in <4 years ƒ Exploration efforts continuing Mineralization Tonnes Grade Ounces as at Dec.31.06(3) (x 1,000) (g/t) (x 1,000) 2P Reserves Au: 19,802 1.39 8

  22. Slide 22: Endnotes

    Kinross Gold Corporation January 2008 Endnotes (1) For further information on Kinross’ production and cost outlook for 2008 & 2009, please refer to the Kinross press releases dated January 18, 2008 and February 21, 2008, which can both be found on our website at www.kinross.com. (2) For further info

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