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Kinross Gold's operations in Russia have not been affected by recently laid U.S. sanctions on Russia in response to Russian activities on the Ukrainian border.
The U.S. imposed sanctions on Russia on February 22, which limits two Russian state-owned banks from being able to do business in the U.S. Washington has also sanctioned five individuals, who are believed to be close to Putin, BBC News reported.
Putin is believed to be preparing for an invasion of Ukraine.
Kinross said it has diversified its procurement and logistics structures in Russia, and sources the majority of its supplies from within the country.
Kinross' workforce is also 98% Russian, and should not be affected by the sanctions.
About 13% of Kinross' global production emanates from Russia. Kinross operates the Kupol gold mine in Chukotka, in Russia's Far East.
It is also developing the Dvoinoye deposit near Kupol. It also bought the Chulbatkan heap leach project with promising mineral deposits in 2019. Chulbatkan is located in the far eastern Russian province of Khabarovsk.
