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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,203,003,246
Close 2016-08-18 C$ 66.50
Market Cap C$ 79,999,715,859
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Globe/wire say Kinross to retreat from Chilean mines

2016-08-19 08:46 ET - In the News

See In the News (C-K) Kinross Gold Corp (2)

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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