Kinross Gold Corporation (TSX: K, NYSE: KGC)
KGC is a gold mining company with mines and projects in Canada, the United States, Brazil, Chile, Ecuador and Russia, employing approximately 5,500 people worldwide. Kinross’ strategic focus is to maximize net asset value and cash flow per share through a four-point plan built on: delivering mine and financial performance; attracting and retaining the best people in the industry; achieving operating excellence through the “Kinross Way”; and delivering future value through profitable growth opportunities.
Kinross Gold Corporation announced today that the Company has been named to the Dow Jones Sustainability North America Index (DJSI North America), which tracks leaders in sustainability among North America’s largest companies.
“This recognition is a tribute to our employees and their commitment to our core value of outstanding corporate citizenship,” said James Crossland, Kinross’ Executive Vice-President External Relations and Corporate Responsibility. “We have set high standards for managing corporate responsibility across our global operations, and seek continually to build on our record as a good neighbour wherever we operate.”
In 2009, Kinross launched a new corporate responsibility strategy that provides a blueprint for delivering on its commitment to responsible mining. The strategy is based on integrating corporate responsibility into business strategy at each stage of the mine cycle, a strong focus on two-way stakeholder engagement and partnerships, and a systematic and structured approach to managing and measuring corporate responsibility performance across the Company.
Earlier this year, Kinross was named one of “Canada’s Top 50 Socially Responsible Corporations” by Maclean’s magazine, and one of the “Best 50 Corporate Citizens in Canada” by Corporate Knights magazine. Kinross recently published its 2009 Corporate Responsibility Report at http://takingresponsibility2009.kinross.com.
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Orofino Gold Inc (Pinksheets: ORFG.PK) is a precious metals acquisition, exploration, and development company that’s offering investors a golden opportunity.
When the dollar is devalued, the price of gold goes up as this metal becomes a safe haven for traders. Orofino Gold Corp. knows the value of gold in today’s economy and has recently signed an option agreement to acquire several properties in Colombia, a current hot spot of gold production.
Results from mineralized and un-mineralized material samples, as well as selected representative samples collected from its Colombian projects that ran higher than expected in gold, silver and copper, give the precious metals acquisition, exploration, and development company four very strong targets and two extremely rich structures to target for gold and copper. Orofino will now implement an airborne magnetometer program, as well as begin site preparation for the diamond drilling planned to take place in the second quarter of 2010.
ORFG is a precious metals acquisition, exploration, and development company.
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Harmony Gold Mining Co. (NYSE: HMY)
Harmony Gold Mining Company Limited engages in underground and surface gold mining. It also involves in related activities, including exploration, processing, and smelting. The company operates a total of 10 underground operations, 1 open cast mine, and 8 processing plants located in the Witwatersrand basin of South Africa, as well as the Green Stone belt. It also holds interests in the development and exploration prospects at Hidden Valley and Wafi in Papua New Guinea. In addition, the company holds interests in the Amanab and the Mount Hagen Projects located in Papua New Guinea. As of June 30, 2009, Harmony Gold Mining Company’s prospecting interest measured 48,983 hectares in South Africa, 327,600 hectares in Papua New Guinea, and 80,123 hectares in Australia. Its mining operations included total proven and probable reserves of 48.2 million ounces.
Harmony Gold Mining Company Limited (Harmony) has declared a final dividend of 50 SA cents per share for the second successive year.
Announcing the company’s results for the quarter and year ended 30 June 2010, CEO Graham Briggs says the dividend indicates Harmony’s return to stability and continuing delivery on its strategy to attain sustainable profitability, funding dividends and growth.
The company recorded a 49% improvement in cash operating profit for the quarter, to R942 million. This is attributable mainly to an 11% increase in the Rand gold price received to R295 580/kg, and also to production improvements.
Gold production increased by 4% to 346 714 ounces, reflecting an 11% increase in tonnes milled to 4 699 tonnes. Recovered grade was fairly constant at 2.24g/t, but was influenced by an increase in lower-grade tonnage from surface operations and the inclusion of Hidden Valley’s operational results for the first time. The underground grade improved by 5.6% to 4.71g/t.
Total costs for the quarter in Rand terms increased by 8.6% to R168 million. The main contributor being the inclusion of Hidden Valley’s operating cost for the first time and the higher cost of electricity due to power utility Eskom’s 25% price hike and higher-winter tariffs.
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