(Toronto) Kinross Gold said Wednesday it is in exclusive talks to sell its Russian assets.
Posted at 11:41 a.m.
Toronto Gold Miner owns the Kupol underground mine in the Chukotka region, as well as the Udinsk project, which is in the development stage.
Kinross said on March 2 that it was suspending operations in Russia following the invasion of Ukraine.
Since then, the company says it has received a number of unsolicited proposals about its Russian business, and it is now holding exclusive discussions with an unnamed mining company.
Kinross added that any sale would be subject to Russian government approval.
Kinross, which is active in the United States, Brazil, Mauritania, Chile, Ghana and Canada, said it has been active in Russia for more than 25 years.
Company in this dispatch: (TSX: K)