KGC - Kinross Gold cuts production guidance to reflect Russia Ghana divestments

Kinross Gold (NYSE:KGC) -1.7% in Wednesday's trading after providing new production guidance to reflect pending divestments of its Russian and Ghanaian assets, with ~70% of its production now expected to be generated by mines in the Americas. The miner said it now expects to produce 2.15M gold equivalent oz this year, down from previous guidance of 2.65M gold equivalent oz, and rising to 2.3M oz in 2023. Kinross (KGC) said it expects higher production in this year's H2, largely driven by increased production at the Paracatu mine in Brazil, Tasiast in Mauritania, and La Coipa in Chile. The company's Q1 production fell 6% Y/Y to 409,857 gold equivalent oz from continuing operations, with the decline attributed to lower output at Round Mountain and Paracatu, partially offset by record-high production at Tasiast. Kinross (KGC) reported Q1 adjusted earnings from continuing operations fell to $70.6M, or $0.06/share, from $102.4M, or $0.08/share, a

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Kinross Gold cuts production guidance to reflect Russia, Ghana divestments