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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Kinross Gold Corporation    K   CA4969024047

KINROSS GOLD CORPORATION

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Kinross Gold : Chirano honored for its performance in environmental preservation

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06/12/2019 | 03:48pm EDT

Deputy Human Resource Manager of CGML, Adinorta Nti, second from right, receiving the award

The Chirano Gold Mines Limited (CGML), a subsidiary of Kinross Gold Corporation, won two major awards for its role in environmental preservation at the 2019 Health Environment, Safety and Security (HESS) awards, in Accra.

The mining giant was awarded the “Best Company in Environmental Protection Campaign” and “Best Company Onsite Safety Awareness and Communication.”

The awards, according to the company, represents yet another recognition of their dedication towards upholding the ‘Kinross value’ of Putting People First.

The company after receiving the awards stated that “no job is so important, that it cannot be done safely. Our Health and Safety Department together with all other departments work tirelessly to ensure every task is carried out safely at all times, from the surface to underground.”

It also noted that their dedication extends to the protection of the environment, from our operational areas to our host communities.

“This award represents only a part of the significant contribution Chirano has made towards preserving, protecting and reclaiming the forest eco-system within which we operate.”

The company said its contribution to national development does not only include protecting the people and the environment, but also played a vital role in the socio-economic development of local communities and the country in general.

Since 2011, Kinross Chirano has spent more than US$ 2 billion in the country. The company contributed approximately US$400 million to the national economy through taxes and royalties paid to the government and US$257 million through wages and salaries paid to employees, approximately 98 percent of whom are Ghanaians.

The company has also provided numerous business opportunities to local contractors, with nearly $1.5 billion spent on goods and services with local companies since 2011, and with 73 percent of all procurement at Chirano done in-country in 2017.

In addition to its fiscal and economic contribution to the development of Ghana, Kinross Chirano has also strongly supported programmes in health and education, positively impacting more than 212,000 beneficiaries in communities surrounding the mine in 2017, which are in line with Sustainable development Goals (SDGs) 3,4 and 6.

Since 2011, the company has spent more than $12 million in programs for local communities, including building clinics and schools, providing vital medical equipment to hospitals and health centres, drastically reducing malaria rates around the mine, and funding professional training for more than 400 youth.

The company in 2018 paid a dividend of $13 million to the government of Ghana, after declaring a $130 million profit.

(c) 2019 Business and Financial Times - All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 3 265 M
EBIT 2019 331 M
Net income 2019 177 M
Debt 2019 1 564 M
Yield 2019 -
P/E ratio 2019 32,61
P/E ratio 2020 27,44
EV / Sales 2019 1,99x
EV / Sales 2020 1,96x
Capitalization 4 942 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 4,77 $
Spread / Average Target 21%
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Managers
NameTitle
Jonathon Paul Rollinson President, Chief Executive Officer & Director
Catherine McLeod-Seltzer Chairman
Lauren M. Roberts Chief Operating Officer & Senior Vice President
Tony Serafino Giardini Chief Financial Officer & Executive Vice President
Paul Botond Stilicho Tomory Chief Technical Officer & Senior Vice President
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