Record Cash Flow for Kinross Gold: How They Did It & What's Next

How did Kinross Gold achieve a 123% share price increase in just one year? Kitco’s Senior Mining Editor and Anchor Paul Harris interviews Paul Rollinson, CEO of Kinross Gold, at the 2025 BMO Global Metals, Mining & Critical Minerals Conference. Rollinson discusses how Kinross Gold achieved a strong 2024 with 2 million ounces of production, record free cash flow, and a surging share price. Rollinson shares their strategy of meeting production guidance and holding the line on costs, leading to significant margin expansion. Looking ahead, he highlights their robust growth pipeline, including the Great Bear project, and the potential for future return of capital to shareholders after a strong balance sheet is maintained.

Key points:
- Kinross Gold had a very successful 2024 with high production and cash flow.
- Their strategy focuses on strong technical acumen, meeting production targets, and cost management.
- Debt has been significantly repaid, including the term loan for the Great Bear acquisition.
- Kinross is prioritizing internal growth projects like Great Bear while also considering shareholder returns.
- The company sees potential for reactivating share buybacks in the future.

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