TORONTO, May 4 /CNW/ - Kinross Gold Corporation (TSX-K; NYSE-KGC)
("Kinross" or the "Company") is pleased to announce the appointment of Tim
Baker as Executive Vice President and Chief Operating Officer of Kinross
effective June 15, 2006.
Most recently, Mr. Baker was Executive General Manager of Placer Dome
Chile, where he was responsible for the Placer Dome operations there,
including the Zaldivar mine and the Kinross-Placer joint venture at La Coipa
as well as the Pueblo Viejo project in the Dominican Republic. Mr. Baker has
extensive experience in all aspects of international mining operations
including cost control, operational efficiency and capital expansions. His 30-
year career has spanned several continents, including key posts in Canada,
Latin America, Africa and the United States. Mr. Baker and his family will
return to Canada to take up his position with Kinross in Toronto.
He also has significant experience in environmental, health and safety
matters in addition to background expertise in government relations, permit
acquisition and community relations. Mr. Baker completed his Bachelor of
Science (Geology) at Edinburgh University in Scotland and attended the
Executive Management program at Queen's University.
"Tim Baker has a lifetime of experience in operating mines and projects
around the world and will be a great asset on a strong Kinross team," said Tye
Burt, President and Chief Executive Officer of Kinross Gold Corporation. "Tim
has tremendous hands-on operational experience and we look forward to his
knowledge and expertise in our global operations."
Kinross also announced today the resignation of Scott Caldwell, effective
the end of June 2006, as Executive Vice President and Chief Operating Officer
for the Company to become the President of a new, privately-held affiliate, in
which Kinross will be the primary investor. This new partnership will pursue
early-stage energy-related opportunities in the United States, Canada and
Russia. Mr. Caldwell has been with Kinross since May 1998.
"Scott has been a key factor in Kinross' success today as a major gold
producer. We are excited about the future possibilities this new venture will
present," added Tye Burt. "Senior management and the Board of Directors wish
to thank Scott for his valuable contribution to the Company."
"I am pleased that both Scott and Tim are committed to a smooth
transition and that our team continues to grow stronger with the addition and
retention of the best people in the industry," said Tye Burt.
About Kinross Gold Corporation
Kinross, a world-class gold company based in Canada is the fourth largest
primary gold producer in North America and the eight largest in the world.
With nine mines in stable countries including Canada, the United States,
Brazil and Chile, Kinross employs more than 4,000 people worldwide.
Kinross has a strong balance sheet and a no-gold hedging policy. Kinross
is focused on a strategic objective to maximize net asset value and cash flow
per share through a four-point plan built on growth from core operations;
expanding capacity for the future; attracting and retaining the best people in
the industry; and driving new opportunities through exploration and
acquisition.
Kinross maintains listings on the New York Stock Exchange (symbol:KGC)
and on the Toronto Stock Exchange (symbol:K).
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