Kinross Gold Corporation Unveils 2024 Sustainability Report
All dollar amounts are expressed in U.S. dollars, unless otherwise noted.
TORONTO – Kinross Gold Corporation (TSX: K; NYSE: KGC) is excited to share its 2024 Sustainability Report, which showcases the Company's significant strides in advancing its Sustainability Strategy during the past year. This comprehensive report provides stakeholders with an essential update on progress and future goals.
J. Paul Rollinson, CEO, stated, "Our steadfast commitment to Sustainability is an integral part of Kinross' values and culture. We are dedicated to responsible mining, prioritizing health and safety, and ensuring environmental stewardship. Community investment is central to our operations, and we aim to be a trusted partner in the areas where we operate. Our new global approach to Health and Safety, known as Safeground, is a testament to our collaboration with employees over the past three years. The details in our Report illuminate the critical role that Sustainability plays in enhancing our overall corporate results and shareholder value."
The 2024 Sustainability Report marks the 17th edition, and it is accessible at www.kinross.com/2024-Sustainability-Report. It outlines key achievements and commitments for the upcoming years. Kinross’ Sustainability Strategy is built on three foundational pillars: Workforce and Community, Natural Capital, and Climate and Energy, reflecting an unwavering commitment to responsible mining practices.
The report emphasizes Kinross's approach to performance metrics by providing independent assurance for 49 Sustainability-related indicators reported for the fiscal year 2024. This commitment to transparency aligns with Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) indices, while also beginning the transition to meet International Sustainability Standards Board (ISSB) requirements.
Kinross' exceptional performance continues to earn recognition within the mining and metals industry. The Company is proud to have been included in the S&P 2025 Global Sustainability Yearbook for the 12th consecutive time since 2012. It achieved a remarkable score in the top 94% percentile in a Moody's ranking and was recognized as one of the top Canadian miners in The Globe and Mail’s annual governance review. Additionally, Kinross received accolades from the Canadian Council of Americas for its Business Achievement in Sustainability.
Highlights from the 2024 Sustainability Report
Kinross' 2024 Sustainability Report is packed with noteworthy highlights showcasing their commitment to sustainable practices:
Workforce and Community Engagement
- Consistent low injury rates aligned with the five-year average and expanded proactive safety engagements, with over 12,000 personnel completing the Safety Excellence Program.
- Delivered $4.0 billion in economic benefits to host countries through various contributions, including $416.0 million in government payments and $680.7 million in wages.
- Achieved remarkable local employment statistics, with 99% of the workforce and approximately 93% of management sourced from host nations, marking a continued upward trend.
- Advanced gender diversity in leadership roles, with 22% of senior management positions held by women.
- Engaged in over 58,000 interactions with stakeholders, encompassing local communities, indigenous peoples, and investors to promote sustainable initiatives.
- Maintained compliance with the Responsible Gold Mining Principles (RGMP) for the fourth successive year, emphasizing ethical mining practices.
- Launched the Tasiast Fund in Mauritania to foster long-term social investments, with projects initiated following comprehensive consultations.
- In collaboration with the World Gold Council, Kinross published a video illustrating the impact of community partnerships on sustainability initiatives.
Natural Resource Management
- Continued to uphold superior tailings management standards, with a 32-year history free from breaches.
- Optimized water usage by recycling 75% of the water utilized across operational sites.
- Initiated a recycling awareness initiative at Paracatu, leading to a 10% reduction in single-use plastics.
- Enhanced waste management strategies at Tasiast, successfully recycling over 19 million plastic bottles and partnering with local recyclers.
- Achieved a remarkable 95 hectares of land reclamation at operational mines, with Bald Mountain earning recognition for its exemplary reclamation efforts.
Climate and Energy Commitment
- On track to achieve a 30% reduction in greenhouse gas emissions intensity by 2030.
- Executed 19 energy efficiency projects in 2024, saving over 45,000 tonnes of CO2 emissions and significantly reducing fuel consumption.
- Generated 50,615 MWh of renewable energy from the Tasiast solar plant, contributing to clean power at the facility.
- Increased renewable energy usage to 24% of total energy consumed, a significant improvement compared to previous years.
About Kinross Gold Corporation
Kinross is a dynamically evolving global senior gold mining company, operating across various countries, including the United States, Brazil, Mauritania, Chile, and Canada. The Company prioritizes creating value through responsible mining practices, operational excellence, and robust financial performance. Kinross is publicly traded on both the Toronto Stock Exchange and New York Stock Exchange.
Contact Information
Media Contact: Samantha Sheffield, Director of Corporate Communications
Phone: 416-365-3034
Email: samantha.sheffield@kinross.com
Investor Relations Contact: David Shaver, Senior Vice-President
Phone: 416-365-2854
Email: InvestorRelations@kinross.com
Sustainability Contact: Ben Little, Senior Vice-President
Phone: 416-365-2770
Email: ben.little@kinross.com
Source: Kinross Gold Corporation
Frequently Asked Questions
1. What is the focus of Kinross Gold Corporation's Sustainability Report?
Kinross Gold Corporation's Sustainability Report highlights their efforts in responsible mining, community engagement, and environmental stewardship for the year 2024.
2. What are the key performance areas emphasized in the report?
The report emphasizes Workforce and Community, Natural Capital, and Climate and Energy as the core areas of focus for Kinross's sustainability initiatives.
3. How does Kinross ensure the safety of its workforce?
Kinross maintains a low injury frequency rate and offers safety training programs, with over 12,000 participants engaging in their Safety Excellence Program.
4. What recognition has Kinross received for its sustainability efforts?
Kinross has received numerous recognitions, including inclusion in the S&P Global Sustainability Yearbook and high rankings in governance reviews.
5. How is Kinross contributing to the communities where it operates?
Through initiatives like the Tasiast Fund and extensive stakeholder engagement, Kinross contributes significantly to economic benefits and social investments in host countries.
