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« High River Gold Update 01 March 2010 | Main | Are Stocks the way to play this bull? »

Kinross appointed to Russian government advisory council on foreign investment

Kinross logo 01 March 2010.JPG

A feather in the cap for Kinross Gold Corporation (KGC) as there latest news release proudly announces that they have been appointed to the Foreign Investment Advisory Council (FIAC):

The Ministry of Economic Development of the Russian Federation has announced the appointment of Kinross to Russia’s Foreign Investment Advisory Council (FIAC).

FIAC was established in 1994 to assist Russia in forging and promoting a favourable investment climate based on global expertise and the experience of international companies operating in Russia. FIAC functions on the basis of direct dialogue between the chief executives of investor companies and the Russian government, with a focus on the crucial aspects of fostering a healthy investment climate.

The council is chaired by Russian Prime Minister Vladimir Putin and includes CEOs from 42 companies. Kinross is the only Canadian company to be named to the council. “Kinross is honoured to be inducted into FIAC, which we view as an endorsement by the Russian government of our status as a valued investor,” said Mr. Burt. “By working directly with the Russian government at a high level, the Council reinforces the government’s ongoing efforts to improve Russia’s investment environment. We look forward to playing an active role in advancing this shared goal.”

Kinross has been active in Russia since 1995. The company currently operates the Kupol gold-silver mine in the Chukotka region of Russia through the Chukotka Mining and Geological Company (CMGC), which is owned 75 per cent by Kinross and 25 per cent by the Chukotka government. Kinross is the largest Canadian investor in the Russian Federation.

Well done Team Kinross, this move will no doubt reap the benefits going forward.

To read the news release in full please click here.

Kinross Gold Corporation trades on the Toronto stock Exchange under the symbol of ‘K’ and on the New York Exchange under the symbol of ‘KGC’

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