Kinross Gold took a hit in the third quarter. The company lost $23.9M in adjusted earnings compared to a profit of just more than $70M for the same time last fall. Gold production was down slightly year over year.
Chief Executive Officer J. Paul Rollinson says cost reduction will continue to be a key focus for the company. He says a combination of corporate and mining layoffs will save Kinross about $30M a year.
(Written by Rocco Frangione)