KGC - Kinross Gold says Russia operations unaffected by U.S. sanctions

Kinross Gold (NYSE:KGC) +1.2% pre-market after saying it continues to operate in Russia and its mining operations in the country are unaffected by U.S. sanctions. Kinross says it has diversified procurement and logistics structures in Russia, with most of its procurement coming from within the country; given the ice road supply season, the operations have a full year of supplies on hand. The miner says its Russian operations, located in the Russian Far East 7K km away from Ukraine, are expected to produce ~13% of its global production in 2022. Kinross shares fell 5.3% in Tuesday's trading, as the company is viewed as vulnerable to the Russia-Ukraine conflict.

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Kinross Gold says Russia operations unaffected by U.S. sanctions