Socio-Economic Value

Kinross generates value for our host communities through local job creation, procurement, tax payments and donations. This value helps to reduce poverty, sustain strong communities and contributes to improved well-being and prosperity. We measure this value through Kinross’ “Benefit Footprint”, our metric for tracking the distribution of our direct economic footprint in host communities. We strive to enhance our value by engaging with local governments, communities and civic institutions to seek ways to translate benefits into sustainable, long-term improvements that last after the mine closes.

Read more about our management approach to generating socio-economic value in the local community through our benefit footprint.

Benefit Footprint

In 2019, Kinross generated significant benefits by spending more than $3.2 billion in our host countries through tax payments, jobs, procurement and community support. Our goal is to maximize the economic value of our business which, in turn, generates social and economic benefits in host countries and communities. Through these direct benefits, the wealth generated from our mining activities helps to reduce poverty, sustain strong communities and contribute to improved well-being and prosperity.

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Local Employment

Creating meaningful livelihoods for our employees is one of the most powerful positive social impacts of our business, especially when we are able to create new opportunities for diverse and potentially vulnerable groups who may have limited alternatives, such as women, youth and residents of remote areas. Our operations employ more than 9,000 people in a wide variety of trades and professions – from geologists and miners, to engineers, electricians, mechanics, accountants, information technology specialists, and more. About 98% of our workforce are nationals from our host countries.

The skills, knowledge, and experience our employees gain while working for Kinross help them succeed throughout their careers. Stable employment and compensation contribute to improved well-being for our employees and their families.

Read more about how Kinross is fostering local employment.

Approximately 98% of our workforce are nationals from host countries

Local Procurement

We purchase a broad range of materials and services to support our mining activities. Through our supply chain and community relations teams, we strive to apply Kinross’ purchasing power to support local businesses and help foster local sustainable development. Together with our local procurement teams, we engage with local suppliers to meet our company-wide target of between 75% and 80% of spending within our host countries. We have met our in-country spending target for five consecutive years.

Read more about our management approach to local procurement.

Read more about our local procurement at a national, regional and local scale.

Local Procurment In 2019, Kinross spent approximately $2.2 billion in host countries through procurement.
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