December 15, 2000
Toronto, Ontario –
KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC)
and
BEMA GOLD
CORPORATION (TSE, AMEX–BGO)
announce they have instructed Cia Minera Maricunga ("CMM")
(50% Kinross/50% Bema), owner of the Refugio Mine, to recommence mining and crushing activities
effective December 16, 2000. The Refugio Mine has continued to process gold from the heap leach
pads since in-pit mining operations were temporarily suspended on November 9, 2000.
For the first five months of 2001, Refugio is projected to produce approximately 80,000 ounces of gold
at an operating cash cost of approximately $230 per ounce of gold.
Due to the current gold price and the requirement for significant capital expenditures required to
operate Refugio in the second half of 2001, it is currently planned to cease mining at the end of May
2001, unless the gold price has improved significantly.
- 30-
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, are
forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. These
include fluctuations in the price of gold, the outcome of negotiations with business partners and others concerning operations,
and strategic decisions made by the company in the future. Additional important factors that could cause actual results to differ
materially from Kinross' expectations are disclosed under the heading "Risk Factors" and elsewhere in Kinross' documents filed
from time to time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory
authorities.
-30-
For additional information contact:
Robert M. Buchan
Chairman and Chief Executive Officer
Tel.: (416) 365-5650
Gordon A. McCreary
Vice President, Investor Relations and Corporate Development
Tel.: (416) 365-5132
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December 15, 2000
Toronto, Ontario –
KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC)
and
BEMA GOLD
CORPORATION (TSE, AMEX–BGO)
announce they have instructed Cia Minera Maricunga ("CMM")
(50% Kinross/50% Bema), owner of the Refugio Mine, to recommence mining and crushing activities
effective December 16, 2000. The Refugio Mine has continued to process gold from the heap leach
pads since in-pit mining operations were temporarily suspended on November 9, 2000.
For the first five months of 2001, Refugio is projected to produce approximately 80,000 ounces of gold
at an operating cash cost of approximately $230 per ounce of gold.
Due to the current gold price and the requirement for significant capital expenditures required to
operate Refugio in the second half of 2001, it is currently planned to cease mining at the end of May
2001, unless the gold price has improved significantly.
- 30-
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, are
forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. These
include fluctuations in the price of gold, the outcome of negotiations with business partners and others concerning operations,
and strategic decisions made by the company in the future. Additional important factors that could cause actual results to differ
materially from Kinross' expectations are disclosed under the heading "Risk Factors" and elsewhere in Kinross' documents filed
from time to time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory
authorities.
-30-
For additional information contact:
Robert M. Buchan
Chairman and Chief Executive Officer
Tel.: (416) 365-5650
Gordon A. McCreary
Vice President, Investor Relations and Corporate Development
Tel.: (416) 365-5132
Home
•
Corporate
•
Operations
•
Investors
•
News
•
Contact
•
Search
•
Index