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The Paracatu mine in Brazil is a large scale open pit operation located near the city of Paracatu, and approximately 230 kilometres from Brasília, the capital of Brazil. Kinross first acquired an ownership interest in the Paracatu mine upon completion of the merger with TVX on January 31, 2003. On December 31, 2004, Kinross purchased the remaining 51% from Rio Tinto.

Access to the mine is provided by paved federal highways and charter aircraft. The mine is the largest employer in Paracatu, which is predominantly an agricultural town. Gold mining in the Paracatu area dates back to 1722 with the discovery of placer gold in the creeks and rivers of the Paracatu region.

Both the mill and mine operate 24 hours a day, 7 days per week. The nominal plant throughput is 4.8 million tonnes per month or 58 million tonnes per year, considering the present ore hardness.

In 2006, Kinross began an expansion of the mill facilities, which is expected o triple throughput to 61 million tonnes per annum. Production of gold from the expansion plant began in September 2008. The expansion is expected to extend the life of the mining operation to 2042.

Mineral Reserve and Resource Summary

As at December 31, 2012