Kinross Releases 2023 Sustainability Report

Jun 5, 2024 9:00 AM ET

Kinross Gold is pleased to announce the publication of its 2023 Sustainability Report, providing a fulsome summary of the Company’s progress over the past year in furthering its sustainability and environmental, social and governance (ESG) goals.

“At Kinross, sustainability is a key consideration in all facets of our business and we focus on getting it right at all stages of the mining process, from exploration through to development, operations and mine closure,” said J. Paul Rollinson, CEO. “In 2022, we launched an updated ESG Strategy focusing on three key pillars – Workforce and Community, Natural Capital, and Climate and Energy – setting new target objectives within each. Over the past year we have executed on that Strategy, with excellent results both operationally and from a sustainability perspective. We continued to advance our people-centric safety programs and culture, prioritize environmental stewardship, and contribute meaningful and sustainable benefits to our host communities with $4.1 billion spent in 2023. The projects detailed in our Report highlight our philosophy of driving value for shareholders, including through sustainability results.”

Click here to view the 2023 Sustainability Report:

Key highlights and achievements contained in the report include:

  • Generated $4.1 billion in economic benefits to host countries through payments to government (US$356 million), wages ($694 million), procurement ($3 billion), and community support ($15 million). Since 2010, Kinross has contributed $48 billion to the economies of Kinross’ host countries.
  • Sustained high levels of local employment with 99% of the Company’s workforce and approximately 92% of management from within host countries, the latter increasing by 5% compared with 2022.
  • Advanced Diversity, Equity, and Inclusion, achieving 14% female representation in Kinross’ workforce, the highest level achieved to date.
  • Maintained low injury frequency rates that were in line with three-year averages and continued to advance performance across all leading indicators of safety performance. In 2023, 100% of Kinross operating sites implemented the Safety Excellence Program.
  • Maintained top-tier ranking in The Globe and Mail’s annual governance review.
  • Maintained record of zero material reportable incidents at the Company’s tailings sites for the 31st consecutive year.
  • Water intensity per gold equivalent ounce improved by 9% from 2022 to 2023, building on the 8% decrease between 2021 and 2022, driven by a 9% decrease in total water consumed and increased gold production.
  • Completed a gap assessment against the Task Force on Nature-related financial disclosures (TNFD), which will inform ongoing work on the Company’s strategy for natural capital.
  • Advanced green energy projects across the Company, including completing the 34MW Tasiast solar plant, and increasing renewables in the Company’s energy mix. Learn more about the Company’s energy efficiency initiatives across the portfolio in this video.
  • On track to achieve goal of 30% reduction of Scope 1 and Scope 2 greenhouse gas emissions intensity (on a per gold equivalent ounce basis) over the 2021 baseline by 2030, through implementation of 15 energy efficiency projects in 2023, with combined GHG savings of more than 29,000 tonnes CO2e.
  • Achieved high ESG rankings and ratings in the top quartile of the mining and metals sector including being recognized in the Dow Jones Sustainability World Index and the S&P Global Sustainability Yearbook for 2024.

About Kinross Gold Corporation
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).

Media Contact:
Victoria Barrington
Senior Director, Corporate Communications
phone: 647-788-4153

Investor Relations Contact:
Chris Lichtenheldt
Vice-President, Investor Relations
phone: 416-365-2761
Sustainability Contact:
Dominic Channer
Vice-President, Community Relations & ESG
phone: 416-892-8771

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