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Kinross announces new CFO

Kinross Gold (TSX: K) has announced Andrea Freeborough will replace Tony Giardini as CFO.
Kinross announces new CFO Kinross announces new CFO Kinross announces new CFO Kinross announces new CFO Kinross announces new CFO

Andrea Freeborough at Kinross’ Kupol mine in Russia

Staff reporter

Freeborough is a chartered accountant and first joined Kinross in 2009 as vice-president corporate controller.

More recently she was VP of investor relations and corporate development and provided leadership on acquiring two hydroelectric power plants in Brazil which Kinross expects to substantially reduce costs at Paracatu.

Freeborough was named among the "100 Global Inspirational Women in Mining" by Women in Mining UK in 2016.

"Andrea's successful track record at Kinross and throughout her career, including accounting, international finance, M&A, and deep management experience, will be an excellent addition to our leadership team," president and CEO J. Paul Rollinson said.

Giardini is leaving the company "by mutual agreement to pursue new opportunities" and Rollinson thanked him for his many valuable contributions.

"His commitment to financial discipline and maintaining a strong balance sheet, and his sharp focus on capital management have strengthened the company's financial position and equipped us to execute on our development projects and invest in our future," he said.

Earlier this month, the gold miner said in 2018 it had met its production, cost and capital guidance for the seventh consecutive year, producing 2.45 million gold-equivalent ounces at an all-in sustaining cost of US$965/oz Au-eq.

It expects to produce about 2.5Moz Au-eq this year at costs in line with 2018.

Kinross shares are trading near the midpoint of the 52-week range of C$3.15-$5.38, closing up 1.88% yesterday to $4.34 to capitalise it at $5.4 billion.