Kinross Gold Corporation

Apr 04, 2001, 01:00 ET from Kinross Gold Corporation

    TORONTO, April 4 /PRNewswire/ - Kinross Gold Corporation (TSE - K; NYSE -
 KGC) announced today that its 100% owned subsidiary, Fairbanks Gold Mining
 Inc. (FGMI), made a voluntary early prepayment of $22 million on the tax
 exempt Industrial Revenue Bonds. Originally FGMI had drawn $71 million against
 this facility and this is the first principal repayment that has been made
 with regard to this debt facility. The Industrial Revenue Bonds are issued
 under the State of Alaska tax exempt bond facility. The proceeds of the bonds
 were used to finance solid waste disposal facilities at the Fort Knox mine in
 Fairbanks Alaska.
     "This is just another way for us at Kinross to show our commitment to
 reducing debt" said Bob Buchan, Chairman and CEO "This is a step in the
 process of restructuring the balance sheet. Kinross will continue to
 investigate other options to further strengthen our ability to enhance
 shareholder value."
 
 

SOURCE Kinross Gold Corporation
    TORONTO, April 4 /PRNewswire/ - Kinross Gold Corporation (TSE - K; NYSE -
 KGC) announced today that its 100% owned subsidiary, Fairbanks Gold Mining
 Inc. (FGMI), made a voluntary early prepayment of $22 million on the tax
 exempt Industrial Revenue Bonds. Originally FGMI had drawn $71 million against
 this facility and this is the first principal repayment that has been made
 with regard to this debt facility. The Industrial Revenue Bonds are issued
 under the State of Alaska tax exempt bond facility. The proceeds of the bonds
 were used to finance solid waste disposal facilities at the Fort Knox mine in
 Fairbanks Alaska.
     "This is just another way for us at Kinross to show our commitment to
 reducing debt" said Bob Buchan, Chairman and CEO "This is a step in the
 process of restructuring the balance sheet. Kinross will continue to
 investigate other options to further strengthen our ability to enhance
 shareholder value."
 
 SOURCE Kinross Gold Corporation