The International Cyanide Management Institute Announces Extension of Corrective Action Plan Completion Deadline for Kinross Gold Corporation’s La Coipa Mine

The Board of Directors of the International Cyanide Management Institute (ICMI) has approved a request from Kinross Gold Corporation (Kinross) to extend the deadline for completion of the Corrective Action Plan (CAP) for the La Coipa Mine (La Coipa) in Chile. The CAP must now be fully implemented by November 7, 2012.

The La Coipa Mine was found in substantial compliance with the International Cyanide Management Code (Cyanide Code) and was conditionally certified on July 7, 2011. The operation’s CAP, identifying eight areas for needed improvement, was posted along with its Summary Audit Report on the Kinross signatory page of the Cyanide Code web site. La Coipa was required to correct its deficiencies by July 6, 2012. Prior to the deadline, Kinross requested a four month extension for completion of CAP Items 3, 4 and 7 because weather conditions at this high altitude operation had delayed the necessary repair work on the operation’s synthetic pond liners necessary to bring those items into full compliance with the Cyanide Code.

Based on the information provided by Kinross and the operation’s good-faith effort to meet the Cyanide Code’s requirements, ICMI’s Board of Directors granted the company’s request and extended the deadline for completion of the three corrective actions until November 6, 2012.

The Cyanide Code is a voluntary industry program for companies involved in the production of gold using cyanide and companies producing and transporting this cyanide. It was developed under the aegis of the United Nations Environment Programme by a multi-stakeholder Steering Committee. The Cyanide Code is intended to complement an operation’s existing obligation to comply with the applicable laws and regulations of the political jurisdictions in which the operation is located.

ICMI has been established to administer the Cyanide Code, promote its adoption, evaluate its implementation, and manage the certification process. A detailed list of the operations covered by signatory companies’ applications, along with the full text of the Cyanide Code and its implementing and administrative documents, are available at www.cyanidecode.org.
Date:
Thursday, July 12, 2012