KGC - Kinross signs agreement with Mauritania on Tasiast mine

assistantua/iStock via Getty Images Kinross Gold ([[KGC]] +0.6%) says it signed an agreement with Mauritania's government to resolve the dispute at its Tasiast mine, which it says confirms the same key terms of the agreement in principle signed in June 2020. Kinross says the deal includes the continuation of tax exemptions on fuel duties; the repayment to Kinross of ~$40M in outstanding VAT refunds; a $10M payment by the company to the government to resolve disputed matters; and the government's nomination of two observers to the board of the Kinross subsidiary operating the mine. "The company and government are focused on the goal of restarting milling operations at Tasiast and are prioritizing efforts and processes to achieve this shared objective," the company says. Kinross is in a good financial condition with good growth prospects, and its shares are cheap compared to peers, Peter Arendas writes in a bullish analysis posted

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Kinross signs agreement with Mauritania on Tasiast mine