Kinross suspends Russian operations

The decision is due to Russia's ongoing invasion of Ukraine.
Kinross suspends Russian operations Kinross suspends Russian operations Kinross suspends Russian operations Kinross suspends Russian operations Kinross suspends Russian operations

Kinross is in the process of suspending operations at Kupol.

Canadian gold miner Kinross has suspended its Russian operations due to Russia's ongoing invasion of Ukraine.

"Kinross is deeply concerned about the loss of life and destruction in Ukraine and wishes to express its sympathy and support for the people who are suffering because of this tragic situation," the company said in a statement.

Kinross is suspending all activities at its Udinsk gold development project, located in Khabarovsk Krai in Russia's Far East. The project is in the feasibility stage.

The company is also in the process of suspending operations at its underground Kupol mine in Chukotka, also in Russia's Far East.

Kinross will also be donating C$1 million to the Canadian Red Cross Ukraine Humanitarian Crisis Appeal.

The Russian invasion of Ukraine which began last week has struck a political chord in Canada, as the country has significant numbers of Ukrainian residents and citizens with Ukrainian roots.

On March 3, Canadian Prime Minister Justin Trudeau committed to sending Ukraine up to 4,500 M72 rocket launchers and up to 7,200 hand grenades, as well as C$1 million for high-resolution satellite imagery.

Earlier this week, the Canadian defence minister said Canada would send Ukraine 100 Carl-Gustaf anti-tank weapons systems and 2,000 rockets, CBC News reported.

On Feb. 23, Kinross had said that its Russian mines were operating as normal, and would not be affected by recent U.S. sanctions against the country.

Kinross said it will comply to all sanctions and legal restrictions.

The company also operates gold mines in the United States, Brazil, Mauritania, and Ghana.

 

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