Kinross Gold Corp. under federal investigation for West African mine payments

Kinross Gold Corporation officials finally responded to media inquiries an ongoing regulatory review in relation to its West Africa mining operations.
Kinross Gold Corporation officials finally responded to media inquiries an ongoing regulatory review in relation to its West Africa mining operations. | File photo
Kinross Gold Corporation officials responded to media inquiries Oct. 5 about the regulatory review occurring on its West Africa mining operations.

In August 2013, Kinross claims it received allegations of improper payments made to government officials and certain internal control deficiencies at its West Africa mining operations.

In March and December 2014 and in July 2015, company officials then says it received subpoenas from the U.S. Securities and Exchange Commission (SEC) on the payment issue.

And by December 2014, the U.S. Department of Justice (DOJ) also made similar requests from Kinross.

In its latest statement, Kinross says it is fully cooperating with the SEC and DOJ and continues to diligently pursue its own internal investigation, which, over the course of the past 25 months, is yet to identify any issues that would have an adverse effect on the company's financial position or business operations.

"This investigation is confidential and nonpublic and should not be construed as an indication by the commission or its staff that any violation has occurred, nor as a reflection upon any person, entity or security," Kinross said. 

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Kinross Gold Corporation Kinross Tasiast Gold Mine

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