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8/19/16

Reuters: Kinross (K.to) (KGC) bailing on Chile

A nice scoopette out of Reuters last night. Link here, first lines here:

Canada's Kinross Gold Corp is looking to retreat from Chile and has put its main assets in that country up for sale, according to people familiar with the process.
The move comes at a time Toronto-based Kinross has suspended operations at Maricunga, its major mine in Chile, because of environmental concerns raised by the Chilean regulator. continues here

In other words, Special K is getting a fit of pique because Chile won't allow them to screw up their environment any longer. This is the type of "Your Laws Shouldn't Apply To Us" stupidity that gives mining a bad name across the world. And if this reminds you of the IKN post dated March 21st 2016 entitled "The Kinross (K.to) (KGC) Maricunga mine closed due to "Irreparable damage" to the environment" that catalogues the criminal damage K caused to an important wetland area in Chile, I wouldn't be surprised.