Kinross Gold Corporation reported unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2009. For the quarter, the company reported adjusted net earnings of $1.7 million or $0.00 per share against $83.4 million or $0.13 per share last year. Cash flow before changes in working capital was $203.0 million against $183.2 million last year. Cash flow before changes in working capital per share was $0.29 against $0.29 last year. Exploration and business development expense was $22.2 million, with expensed exploration at $17.3 million and capitalized exploration at $4.8 million. For the nine months, the company reported adjusted net earnings of $156.3 million or $0.23 per share against $187.0 million or $0.30 per share last year. Cash flow before changes in working capital was $645.0 million against $393.1 million last year. Cash flow before changes in working capital per share was $0.93 against $0.64 last year. Asset purchases-net of cash acquired was $41.4 million.

Kinross Gold Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported revenue of $582.3 million compared to $503.7 million for the same period last year. Operating earnings were $124.6 million compared to $136.7 million for the same period last year. Earnings before taxes and other items was $89.1 million compared to $107.1 million for the same period last year. net loss was $21.5 million or $0.03 basic and diluted per share compared to $64.7 million or $0.10 basic and diluted per share for the same period last year. Cash flow provided from operating activities was $141.9 million compared to cash used for operating activities of $206.0 million for the same period last year. The company reported additions to property, plant and equipment was $140.5 million compared to $194.1 million for the same period last year. For the nine months, the company reported revenue of $1,713.1 million compared to $1,132.6 million for the same period last year. Operating earnings were $419.7 million compared to $293.3 million for the same period last year. Earnings before taxes and other items was $301.2 million compared to $257.1 million for the same period last year. Net earnings were $74.3 million or $0.11 basic and diluted per share compared to $161.6 million or $0.26 basic and diluted per share for the same period last year. Cash flow provided from operating activities was $479.1 million compared to cash used for operating activities of $242.6 million for the same period last year. The company reported additions to property, plant and equipment was $343.7 million compared to $569.1 million for the same period last year.

Kinross Gold Corporation provided update on its Paracatu expansion project in Paracatu, Minas Gerais State, Brazil. Based on the expansion plant’s current operating levels and an expected production run rate of approximately 35,000 gold equivalent ounces per month in the fourth quarter of 2009, the company expects full-year 2009 gold equivalent production at the Paracatu operation to be approximately 340,000-360,000 ounces, at an average cost of sales per ounce of $700-735. The company made progress in the third quarter 2009 in increasing availability, efficiency and recovery at the Paracatu expansion, but continues to face challenges achieving concurrent recovery and throughput at plant design levels. Thus far in the month of October, grinding circuit throughput is at 70% of design capacity, and recovery is at 74%, compared to a design target of 80% gold recovery.