You are here

Kinross Gold sells off Russian mines but at half the agreed price

Section: Daily Dispatches

By Barbara Shecter
National Post, Toronto
Wednesday, June 15, 2022

Kinross Gold Corp. has sold all its Russian assets to the Highland Gold Mining group of companies, but the Canadian miner will realize just half the $680 million in proceeds agreed to in April, following a review by the recently formed Russian Sub-commission on the Control of Foreign Investments.

The Russian sub-commission "approved this transaction for a purchase price not exceeding $340 million," Kinross said in a statement today.

... Dispatch continues below ...


... ADVERTISEMENT ...

Buy, Sell, or Store Precious Metals with Money Metals Exchange

Money Metals Exchange, a national bullion dealer recently named "Best Overall" by Investopedia.com --

https://www.moneymetals.com/news/2021/02/01/best-overall-precious-metals-dealer-002213

-- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals.

Shop online with Money Metals Exchange here --

https://www.moneymetals.com/buy

-- or by calling 1-800-800-1865.

Meanwhile, Money Metals Depository will store your precious metals in a segregated account at low cost:

https://www.moneymetals.com/depository


Kinross has received $300 million in U.S. dollars in its corporate account and will receive a deferred payment of $40 million on the one-year anniversary of closing.

The $680 million previously agreed to in April was to include an initial payment of $100 million on closing, with the remaining $580 million scheduled to be received in annual payments from 2023 through to 2027. ...

... For the remainder of the report:

https://financialpost.com/news/kinross-sells-off-russian-gold-mines-but-at-half-the-agreed-price

* * *

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 12-15, 2022
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana

https://neworleansconference.com/

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at: bagman1236@aol.com

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16