May 6, 2008 / 9:34 PM / 9 years ago

Kinross Gold profit rises as prices offset output

(In U.S. dollars, unless noted)

TORONTO, May 6 (Reuters) - Kinross Gold (K.TO) said on Tuesday its first-quarter profit rose 3.5 percent as soaring gold prices made up for weaker production.

Kinross earned a net $70.9 million in the quarter, up from $68.5 million. On a per-share basis, profit fell to 11 cents from 15 cents, as the number of shares outstanding increased.

The gold producer also announced it had begun processing ore at its massive Kupol mine in Russia. (Reporting by Cameron French; editing by Rob Wilson)

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