Performance Highlights

  • Achieved a lost-time injury frequency rate of 0.18 per 200,000 hours in 2009, a 74% reduction over a rate of 0.69 in 2008;
  • Successfully managed air and water quality issues, and received no material fines related to environmental performance;
  • Completed International Cyanide Management Code certification at all but one mine (certification at our remaining mine, La Coipa, is scheduled to commence in 2010);
  • Completed a Company-wide review of air emissions indicating that air emissions across Kinross are well below regulatory limits and represent best management practice;
  • Maintained active stakeholder consultation groups with neighbouring communities, and held periodic stakeholder meetings at most operations, effectively addressing community priorities and concerns;
  • Supported a wide range of community development and capacity-building programs and partnerships across our operations;
  • Introduced a Donations and Sponsorship Policy, reaffirming our three strategic focus areas of health, environment and education;
  • Developed a comprehensive training program for security teams in line with the Voluntary Principles on Security and Human Rights, for implementation in 2010;
  • Participated in major third-party case studies of corporate responsibility at our operations in Chile and Brazil;
  • Received numerous regional awards for corporate responsibility, including the “Medal of Honour in Social Development” from Brazil’s Instituto Ambiental Biosfera, the International Vitus Bering Award from the Russian Association of Indigenous Peoples of the North, Siberia and Far East, and the U.S. Bureau of Land Management’s Hardrock Mineral Environmental Award; and
  • Listed among Canada’s 50 Most Socially Responsible Corporations in a 2009 report by Maclean’s magazine and Jantzi Research.
Performance Graphs

Economic Value Distributed and Retained
Kinross Total

(millions $)

2009 2008
Direct Economic Value Generated 2,412.1 1,617.0
Economic Value Distributed
Operating Costs1 881.4 606.3
Employee Wages and Benefits 302.2 281.5
Payments to Providers of Capital2 92.6 101.2
Payments to Governments3 298.0 146.1
Community Investments4 3.9 2.2
Economic Value Retained 834.1 479.7
1. For purposes of calculating economic value distributed and retained, operating costs exclude depreciation, depletion and amortization and impairment charges. Wages and benefits, community investments and payments to governments, other than income and mining taxes, normally form part of operating costs, but have been excluded as they appear on separate lines in the calculations.
2. Payments to providers of capital include dividends paid to Kinross shareholders and interest paid on long-term debt.
3. Payments to governments include income, mining and other taxes, certain royalties and land use payments.
4. Community investments include donations and investments in non-core infrastructure.