Australia’s Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) also said on Wednesday US sanctions on Moscow over the Ukraine crisis may affect Russia’s aluminum industry, which could spill over to the steel industry, CEO Jakob Stausholm said on a call with reporters.
Kinross expects 2022 gold production from Russia to account for about 13% or 350,000 ounces of its annual gold-equivalent production profile. The region contributed 481,108 ounces of gold equivalent during 2021.
The company’s assets are in the Russian Far East and are approximately 7,000 kilometres away from Ukraine.
Kinross currently operates the underground Kupol mine in the Chukotka region. Ore stockpiles from the Dvoinoye operation, where mining activities ceased in 2020, are processed at the Kupol mill.
At Kupol and Dvoinoye, 2021 full-year production was lower than the 511,000 ounces of gold equivalent produced in 2020, mainly due to anticipated lower grades…
