For Kinross, our success in corporate responsibility – as in other areas – is measured by our performance on the ground. Highlights from 2010 and 2011 include:
- Achieved Company-wide improvement in Medical Treatment Case Frequency Rate (MIFR) and Restricted Work Activity Frequency Rate (RWAFR) in 2010. In 2011, Lost-time Injuries (LTI) and Restricted Work Activity Cases (RWAC) increased over the prior year;
- Achieved two million hours worked without an LTI at Kupol in 2011, a full year without a recordable injury in 2011 at our growth projects at Dvoinoye in Russia and Lobo-Marte in Chile, and, at Fruta del Norte in Ecuador, a full year without an LTI or RWAC;
- Improved our Carbon Disclosure Project score to 73, placing us in the top 10% of Canadian reporting companies and earning us leadership recognition for our transparency and comprehensive disclosure of greenhouse gas emissions;
- Received Cyanide Code Certification at La Coipa in 2011, meeting our 2011 goal of having all sites, except those in West Africa, certified. Also in 2011, achieved recertification at Fort Knox and Round Mountain. Recertification of Paracatu was received in 2012;
- Achieved a full regulatory release from our Wind Mountain reclamation site in Nevada;
- Completed annual employee training in support of our Human Rights Adherence and Verification Program;
- Invested in employee training and development, including agreements with regional educational institutions;
- Supported a wide range of community development and capacity-building programs and partnerships, as outlined in this report; and
- Received numerous awards for our site performance, including the John T. Ryan Safety Award for excellence in safety performance and the GE Ecomagination Leadership Award for reduced water use, both at La Coipa; the National Safety and First Aid Competition Award for a second time at Chirano; the 2011 U.S. Bureau of Land Management’s Hardrock Mineral Environmental Award at Mineral Hill for land reclamation excellence; and, at Fruta del Norte, recognition as one of Ecuador’s Great Places to Work.
ECONOMIC VALUE DISTRIBUTED AND RETAINED
|2011 5||2010 5|
|Direct Economic Value Generated||3,842.5||2,915.4|
|Economic Value Distributed|
|Operating Costs 1||1,232.6||1,215.0|
|Employee Wages and Benefits||536.2||391.4|
|Payments to Providers of Capital2||134.6||85.9|
|Payments to Governments 3||546.5||438.2|
|Community Investments 4||10.5||7.7|
|Economic Value Retained||1,382.1||777.2|
- For purposes of calculating economic value distributed and retained, operating costs exclude depreciation, depletion and amortization, and impairment charges. Wages and benefits, community investments, and payments to governments, other than income and mining taxes, normally form part of operating costs, but have been excluded as they appear on separate lines in the calculations.
- Payments to providers of capital include dividends paid to Kinross shareholders and interest paid on long-term debt.
- Payments to governments include income, mining and other taxes, certain royalties, and land use payments.
- Community investments include donations and investments in non-core infrastructure.
- Crixás related information for the current and prior periods has been excluded due to its disposal.