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Kinross reported a strong third quarter, with solid operational performance boosted by higher gold prices. Third quarter attributable production of 603,312 gold equivalent ounces, or GEO, was roughly flat versus a year ago, while all-in sustaining costs, or AISC, on a co-product basis declined 7% to $958 per ounce. With average realized gold prices 30% higher than last year, adjusted operating cash flow rose 86% to $550 million.
Kinross Gold is a Canada-based senior gold producer, producing roughly 2.5 million gold equivalent ounces in 2019. The company had 24.3 million ounces of proven and probable gold reserves and 55.7 million ounces of silver reserves at the end of 2019. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia. The company has historically used acquisitions to fuel expansion into new regions and production growth.
