Kinross Signs Share Purchase Agreement to Acquire 100% of Kupol for $350M

Kinross Gold Corporation KGC announced today that its 75%-owned subsidiary, Chukotka Mining and Geological Company, has entered into a Share Purchase Agreement with the State Unitary Enterprise of the Chukotka Autonomous Okrug, to repurchase the 2,292,348 shares of CMGC currently held by CUE, representing 25.01% of CMGC's outstanding share capital, for an approximate consideration of US$350 million, subject to adjustments equal to the amount of the attributable dividend payments.