Kinross Gold Corporation (KGC), a Canadian bullion mining firm, said on Tuesday that it has inked a deal with the Highland Gold Mining Group of Companies and its affiliates to sell all of its Russian assets for $680 million in cash.
According to the deal, Kinross will get a sum of $400 million in cash for the Kupol mine and the surrounding exploration licenses by the end of 2025.
In addition, the Toronto-based miner will receive a total of $280 million in cash for its Udinsk project before end of 2027.
The Canadian firm also said that the deferred payments are secured by an extensive security package that includes share pledges, financial guarantees, and an escrow account.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.