On July 31, 2019, Kinross Gold Corporation announced its agreement with N-Mining Limited to acquire Chulbatkan for total fixed consideration of US$283 million, including US$113 million in cash and US$170 million in Kinross shares. The transaction will leverage operating expertise and build on their existing regional platform.
Chulbatkan, located in Khabarovsk Krai, Russia, is a high-grade, open-pit, heap leach project that is expected to be a high-return operation with a low strip ratio, attractive costs, significant upside potential and low relative execution risk.
Kinross Gold Corporation is a senior gold mining company with a diverse portfolio of mining projects across the world.
Osler, Hoskin & Harcourt LLP advised Kinross by providing securities advice with a team consisting of James Brown and Jason Comerford (Corporate).