TORONTO, Ontario - February 28, 2010 - The
Ministry of Economic Development of the Russian Federation has
announced the appointment of Kinross to Russia's Foreign Investment
Advisory Council (FIAC).
FIAC was established in 1994 to assist Russia in forging and
promoting a favourable investment climate based on global expertise
and the experience of international companies operating in Russia.
FIAC functions on the basis of direct dialogue between the chief
executives of investor companies and the Russian government, with a
focus on the crucial aspects of fostering a healthy investment
climate.
The council is chaired by Russian Prime Minister Vladimir Putin
and includes CEOs from 42 companies. Kinross is the only Canadian
company to be named to the council.
"Kinross is honoured to be inducted into FIAC, which we view as
an endorsement by the Russian government of our status as a valued
investor," said Mr. Burt. "By working directly with the
Russian government at a high level, the Council reinforces the
government's ongoing efforts to improve Russia's investment
environment. We look forward to playing an active role in advancing
this shared goal."
Kinross has been active in Russia since 1995. The company
currently operates the Kupol gold-silver mine in the Chukotka
region of Russia through the Chukotka Mining and Geological Company
(CMGC), which is owned 75 per cent by Kinross and 25 per cent by
the Chukotka government. Kinross is the largest Canadian
investor in the Russian Federation.