The Globe and Mail reports in its Friday, Aug. 19, edition that unnamed sources say Kinross Gold wants to get out of Chile and
has put its main assets in that
country up for sale.
A Reuters dispatch to The Globe reports that the move comes at a time Kinross has suspended
operations at Maricunga,
its major mine in Chile, because
of environmental concerns raised
by Chilean regulators. Sources say Kinross has hired Bank
of Nova Scotia to help find
buyers for its two main Chilean
gold mines.
Sources say interest has been very strong,
with bids coming from mining
companies from Canada, Chile
and other parts of the world.
Kinross spokesman Louie
Diaz says, "We have received expressions
of interest for Maricunga and La
Coipa, as we do for our other
assets from time to time, and we
continue to keep our options
open." He is mum
on whether the company
has begun a formal process to
sell its Chilean mines.
On July 28,
Kinross boss
Paul Rollinson said the company
was "not in a situation where we
need to sell assets," but no decision
had been made on a sale. Last year, unnamed sources told Reuters that Kinross was aiming to
increase its exposure in safer
mining jurisdictions.
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