February 14, 2018 / 10:14 PM / 8 months ago

BRIEF-Kinross Announces Acquisition Of Power Plants In Brazil To Secure Long-Term, Low-Cost Power For Paracatu Mine

Feb 14 (Reuters) - Kinross Gold Corp:

* KINROSS ANNOUNCES ACQUISITION OF POWER PLANTS IN BRAZIL TO SECURE LONG-TERM, LOW-COST POWER FOR PARACATU MINE

* KINROSS GOLD CORP - ‍AGREED TO ACQUIRE TWO HYDROELECTRIC POWER PLANTS IN BRAZIL FOR $257 MILLION​

* KINROSS GOLD CORP - KINROSS EXPECTS TO FUND ACQUISITION BY PURSUING DEBT FINANCING OF APPROXIMATELY $200 MILLION

* KINROSS GOLD CORP - EXPECTS TO FUND DEAL ALSO FROM EXISTING LIQUIDITY, WHICH TOTALLED APPROXIMATELY $2.6 BILLION AT YEAR-END 2017

* KINROSS GOLD CORP - ‍KINROSS BRASIL MINERAÇAO TO ACQUIRE POWER PLANTS FROM A SUBSIDIARY OF GERDAU SA​

* KINROSS GOLD - TO HELP FACILITATE A TRANSITION OF OWNERSHIP AND MANAGEMENT, EXPECTS TO ASSUME EXISTING BCQ AND CAÇU OPERATIONS, MAINTENANCE CONTRACT

* KINROSS GOLD CORP - ‍ACQUISITION IS EXPECTED TO ALLOW KINROSS TO SIGNIFICANTLY LOWER OPERATING COSTS AT PARACATU​

* KINROSS GOLD-‍ACQUIRED PLANTS EXPECTED TO SECURE LONG-TERM SUPPLY OF POWER FOR CO'S PARACATU MINE,RESULTING IN LOWER PRODUCTION COSTS OVER LIFE OF MINE​ Source text for Eikon: Further company coverage:

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