- Kinross Gold Corp KGC has agreed with the Highland Gold Mining group of companies and its affiliates to sell 100% of its Russian assets for $680 million in cash.
- Highland Gold is one of the largest gold mining companies in Russia.
- Kinross will receive $400 million in cash for the Kupol mine and the surrounding exploration licenses and $280 million in cash for its Udinsk project.
- The deferred payments are secured by an extensive security package, including share pledges, financial guarantees, and an escrow account.
- Price Action: KGC shares are trading lower by 1.74% at $5.92 on the last check Tuesday.
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