Kinross Gold Corporation · TSX:K
Kinross Gold — Dahlman Rose Global Metals, Mining & Materials Conference 2010
22 slides from Kinross Gold's conference presentation, Nov 18, 2010
Slide 1: Delivering Disciplined Growth
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Delivering Disciplined Growth Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 New York, NY Cautionary Statement on Forward‐Looking Information All statements, other than s
Slide 2: I. Why Gold Now?
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 I. Whyy Gold Now? 3 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 2009 * S
Slide 3: Major Gold Discoveries: 1997 - Present
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Major Gold Discoveries: 1997 ‐ Present Spending 3,500 90 Average of Major Au Discoveries ((MM oz.) 80 3,000 70 erage of Grassroots + Late Stage S 2,500 60 2,000 50 (US$ MM) 1,500 40 30 1,000 20 500 1
Slide 4: II. Why Kinross Now?
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 II. Whyy Kinross Now? 7 Continuing the Kinross Transformation Kinross Yesterday Kinross Now(1) 4.5 – 4.9 Gold equivalent production (mm oz) Gold equivalent production (mm oz) 2.6* 2.2 1.6 2005 2009 2
Slide 5: World Gold Reserves and Resources
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 World Gold Reserves and Resources Total Reserves & Resources Top Countries (mm oz.) (mm oz.) Total Reserves & Brazil Chile Country % United States Resources 1. South Africa 997 29.7% Russia South Afr
Slide 6: Track Record of Gold Reserve Growth
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Track Record of Gold Reserve Growth Tasiast & Kinross Chirano Today and Probable Gold Reserves (mm oz)(2) Exploration & 8.2 53.4 Development 33.2 Mined 20.8 13.3 Acquired Divested 20 0 20.0 Proven a
Slide 7: Q3 2010 Results
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Q3 2010 Results Realized COS (in millions, except ounces and per Q3/09 Q3/10 % Change Gold Price Margin(6) share amounts) +24% 24% +37% Gold equivalent production $1,190/oz $673/oz 537,440 575,065 7%
Slide 8: Expanding Margins
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Expanding Margins 2004 – YTD Q3 2010: $648 • Average realized gold price: +182% • Kinross’ Ki ’ attributable tt ib t bl costt off sales i (6): +302% l margin $530 +302% Costt of Sales Margin ($/oz.)
Slide 9: 2010 Outlook
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 2010 Outlook(1) Production and Costs Country Production (000 ounces ) Cost of Sales / oz. USA 690 – 745 $480 – 520 Russia(8) 495 – 525 $340 – 365 Brazil 510 – 580 $490 – 555 Chile 350 – 380 $700 – 72
Slide 10: Kinross Project Portfolio
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Kinross Project Portfolio 2011 2012 2013 2014 2015 Paracatu 3rd Ball Mill Paracatu Desulphurization Maricunga SART Plant Paracatu 4th Ball Mill Dvoinoye Tasiast Lobo‐Marte Fruta del Norte Cerro Casal
Slide 11: Paracatu: At-site Expansion
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Paracatu: At‐site Expansion 3rd Ball Mill • Installingg 3rd ball mill to increase throughput g p • Procurement commitments at 90% • Total project 60% complete; construction at site 40% complete • On
Slide 12: Exploration Update at Tasiast
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Exploration Update at Tasiast • Added 5 drills; 16 rigs on‐site o Adding 7 additional core drills o All rigs to be operational by late November • 64,682 m drilled in Q3 2010; 156,784 m drilled YTD •
Slide 13: Tasiast: Conceptual Pit Shell
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Tasiast: Conceptual Pit Shell 5 mm oz reserve pit 20 mm oz exploration target pit Lobo‐Marte, Chile • Updated pre‐feasibility study to be complete in Q4 2010 La Coipa • Feasibility study expected to
Slide 14: Fruta del Norte, Ecuador
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Fruta del Norte, Ecuador • Pre‐feasibility expected to be complete by year‐end Quito • Feasibility expected H1 2011 • Geotechnical and hydrogeological drilling on La Zarza and Colibri concessions • E
Slide 15: Dahlman Rose: P / NAV
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Dahlman Rose: P / NAV 1.4 1.0 0.9 0.8 0.8 0.8 AEM GG ABX KGC NEM AUY Source: Dahlman Rose research – November 15, 2010 29 Key Objectives for 2010 Declare increased reserves Complete Lobo‐Mart
Slide 16: Why Kinross Now?
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Whyy Kinross Now? 1. High‐growth major 2. Strong cash flow from pure gold production 3. Attractive valuation 31 Endnotes 1) For more information regarding Kinross’ production and cost outlook for 201
Slide 17: Fort Knox, USA (100%)
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Appendix pp 33 Fort Knox, USA (100%) • Located in Alaska • Expansion and new heap leach to extend mine life • Material being stacked on new pads Operating Results Production Cost of Sales (Au eq. oz)
Slide 18: Round Mountain, USA (50%) Kettle River, USA (100%)
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 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) YTD Q3 2010 141,033 $614 YTD Q3 200
Slide 19: Kupol, Russia (75%) Paracatu, Brazil (100%)
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Kupol, Russia (75%) • 3,000 tpd mill with open‐pit and underground • 2009 first full year of production Operating Results Production Cost of Sales (Au eq. oz) ($/oz) YTD Q3 2010 404,504 $318 YTD Q3 2
Slide 20: Crixas, Brazil (50%) La Coipa, Chile (100%)
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Crixas, Brazil (50%) • JV with AngloGold Ashanti • Underground mine located in the Brazil Operating Results Production Cost of Sales (Au eq. oz) ($/oz) YTD Q3 2010 56,798 $477 YTD Q3 2009 52,624 $430
Slide 21: Maricunga, Chile (100%) Tasiast, Mauritania (100%)
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Maricunga, Chile (100%) • Located the highly prospective Maricunga District • Open pit, heap leach operation Operating Results Production Cost of Sales (Au eq. oz) ($/oz) YTD Q3 2010 123,611 $682 YTD
Slide 22: Chirano, Ghana (90%)
Kinross Gold Corporation Dahlman Rose Global Metals, Mining & Materials Conference November 18, 2010 Chirano, Ghana (90%) • Open‐pit and underground mining operation • 90% owned by Red Back; Government of Ghana holds a 10% carried interest • 9 open‐pits and 2 recently‐discovered underground deposits
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