Growth projects advance as Kinross third-quarter revenue increases 23 per cent

Growth projects advance as Kinross third-quarter revenue increases 23 per cent

At the Paracatu mine in Brazil, gold equivalent production increased by 5% in the thirdquarter of 2007 compared with the third quarter of 2006. The increase year-over-year isprimarily due to increased mill throughput and offset by lower-grade ore and a lowerrecovery rate. Revenue increased 13% to $31.5 million in the third quarter of 2007 from $28.0 million in the third quarter of 2006 due to an increase in ounces sold and higher goldprices. Cost of sales increased 2% in the third quarter of 2007 over the same quarter of2006 as a result of increased production, which was offset by lower unit costs. Unit costswere lower due to processing softer ore and robust cost controls. This was partially offset by the appreciation of the Brazilian real against the U.S. dollar and increased consumable costs.

http://www.kinross.com/news/1172007-1/index.htm