From Earlier: Kinross Provides Preliminary 2011 Results and 2012 Outlook
Kinross Gold Corporation (NYSE: KGC) provided its preliminary operating results for the full-year 2011 and outlook for 2012, and announced a project optimization process to improve capital allocation, project sequencing, and investment returns.
Kinross' 2011 full-year production is expected to be approximately 2.6 million gold equivalent ounces, within the previously-stated guidance range. The Company's average 2011 production cost of sales is expected to be approximately $600 per gold equivalent ounce, within the previously-stated guidance range.
In 2012, Kinross expects to produce approximately 2.6-2.8 million gold equivalent ounces from its current operations. Production cost of sales per gold equivalent ounce is expected to be in the range of $670-715 for 2012.
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