Kinross Gold loss widens, won't proceed with Tasiast expansion for now

Tue Feb 10, 2015 5:10pm EST
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Feb 10 (Reuters) - Kinross Gold Corp reported a wider fourth-quarter loss on Tuesday as it took an impairment charge of more than $900 million against goodwill, property, plant and equipment.

The Toronto-based gold producer also said it will not go ahead with the expansion of its Tasiast mine in Mauritania "at the present time," blaming the weaker gold price.

Kinross reported a net loss of $1.47 billion, or $1.29 a share in the quarter to Dec. 31. That compares with a net loss of $740 million, or 65 cents a share, in the same period the year before. (Reporting by Nicole Mordant in Vancouver; Editing by Cynthia Osterman)