Kinross Gold history

Kinross Gold Corporation was founded in 1993 following the merger of Plexus Resources Corporation, CMP Resources and the numbered company 1021105 Ontario Corp.

1995: Kinross purchases Macassa Mine in Ontario.

Kinross and competing gold producers had a rude awakening in 1997 when gold prices fell to $295 per ounce.

Kinross merged with Amax Gold (formerly known as Kinam Gold) in 1998, which gave Kinross the Fort Knox Gold Mine.

Mike Westcott of Goepel McDermid Securities believed Kinross was 'one of the better management groups out there,' while the Toronto Globe and Mail's Dave Ebner praised the company's 'strong management and clear vision' in a June 1999 profile.

In the first quarter of 2000, Kinross bought a 33 percent interest in Dayton Mining Corporation and then announced that quarterly earnings were once again a loss.

In 2002 Kinross, TVX Gold (TVX), and Echo Bay Mines proposed a $3-billion merger, which would combine the three companies, while retaining the name Kinross Gold.

The merger was delayed from its original closing due to Kinross’ inability to raise the necessary funds, but was approved by shareholders in January 2003.

In 2006 Kinross sold the Lupin Mine (in Canada) and the Blanket Mine (in Zimbabwe), and bought Crown Resources Corporation, which gave them ownership of the mineral resource Buckhorn Mountain (later Buckhorn Gold Mine) and the associated mineral processing facilities.

In 2010 Kinross purchased the remaining shares (91%) of Red Back Mining for $7.1-billion.