DOCSLIB.ORG

Kinross Gold Corporation 2010 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Kinross Gold Corporation 2010 Annual Report TRANSFORMING OUR FUTURE KINROSS GOLD CORPORATION 2010 ANNUAL REPORT In 2010, Kinross established itself as the new growth leader among senior 2010 HIGHLIGHTS gold producers while delivering record operational and fi nancial results. We signifi cantly upgraded our portfolio by acquiring strategic assets in high- Acquired Red Back Mining The transformational combination with Red Back expanded our global portfolio, including potential gold regions — including Tasiast in Mauritania, one of the world’s the addition of the spectacular Tasiast project, giving Kinross the best growth profi le among fastest-growing gold resources. At the same time, we continued to build our senior gold producers. capacity to deliver on our ambitious growth plans by adding new strength to Increased Revenue, Cash Flow and Earnings For the fi rst time, annual revenue exceeded $3 billion, an increase of 25% over 2009, while our global organization. adjusted operating cash fl ow exceeded $1 billion. Adjusted net earnings increased by 57% and adjusted net earnings per share increased by 32%. With a balanced global portfolio of ten operating mines and four high-quality Advanced Growth Projects growth projects, Kinross expects to double its share of world gold production With new studies completed at Tasiast, Fruta del Norte, Lobo-Marte and Dvoinoye, we are in the next fi ve years. making signifi cant and steady progress advancing the projects that will fuel our next round of growth. By 2015 we expect production to grow to 4.5 — 4.9 million ounces, double our 2010 production. Expanded Gold Reserves and Resources In 2010, Kinross increased total proven and probable gold reserves by 23% to 62.4 million gold ounces. Part of Kinross’ aggressive drill program at Tasiast, Mauritania 02 LETTER TO SHAREHOLDERS 20 TAKING RESPONSIBILITY 28 FINANCIAL REVIEW 08 DRIVING RESULTS 25 CORPORATE GOVERNANCE 173 NON-GAAP FINANCIAL MEASURES AND DIRECTORS 12 TAKING THE LEAD IN GROWTH 175 CAUTIONARY STATEMENT ON 27 KINROSS MANAGEMENT TEAM FORWARD-LOOKING INFORMATION 16 BUILDING STRENGTH AT OUR CORE IBC CORPORATE INFORMATION HIGHLIGHTS (As of December 31 for each year shown) CORPORATE PROFILE KINROSS is a Canadian-based gold mining company with mines and projects in the United States, 10 09 08 Brazil, Canada, Chile, Ecuador, Ghana, Mauritania and Russia, employing approximately 7,000 people FINANCIAL worldwide. Kinross’ strategic focus is to maximize net asset value and cash fl ow per share through a Revenue $ 3,010.1 $ 2,412.1 $ 1,617.0 four-point plan built on: delivering mine and fi nancial performance; attracting and retaining the best Cash flow from operating activities $ 968.4 $ 785.6 $ 443.6 people in the industry; achieving operating excellence through the “Kinross Way”; and delivering future Adjusted operating cash flow* $ 1,091.2 $ 937.2 $ 634.6 Adjusted operating cash flow per share* $ 1.32 $ 1.36 $ 1.01 value through profi table growth. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) Net earnings (loss) $ 771.6 $ 309.9 $ (807.2) and the New York Stock Exchange (symbol: KGC). Earnings per share (loss) Basic $ 0.94 $ 0.45 $ (1.28) Diluted $ 0.93 $ 0.44 $ (1.28) Adjusted net earnings* $ 478.8 $ 304.9 $ 248.8 2010 PERFORMANCE Adjusted net earnings per share* $ 0.58 $ 0.44 $ 0.40 Capital expenditures $ 563.7 $ 481.2 $ 714.7 Record Production Record Revenue Cost of Sales OPERATING (million gold equivalent ounces) ($ millions) ($ per gold equivalent ounce) Gold equivalent ounces produced 2,527,695 2,470,042 1,994,674 1 1 (attributable) (attributable) Gold equivalent ounces sold 2,537,175 2,487,076 1,888,954 Attributable gold equivalent ounces produced 1 2,334,104 2,238,665 1,838,038 Attributable gold equivalent ounces sold 1 2,343,505 2,251,189 1,756,056 508 3,010 Average realized gold price per ounce $ 1,191 $ 967 $ 857 437 Cost of sales per equivalent ounce sold $ 495 $ 421 $ 407 421 2,412 2.3 Attributable cost of sales 368 2.2 per equivalent ounce sold 1 $ 508 $ 437 $ 421 1.8 Proven and probable gold reserves 2 (million ounces) 62.4 51.0 45.6 1,617 1.6 Measured and indicated gold resources 2 (million ounces) 17.7 16.6 13.7 1,093 Inferred gold resources 2 (million ounces) 24.0 16.2 20.8 Proven and probable silver reserves 2 (million ounces) 90.9 102.9 105.8 Proven and probable copper reserves 2 (million pounds) 1,446 2,891 2,601 All fi gures in this report are cited in U.S. dollars unless otherwise noted. 07 08 09 10 07 08 09 10 07 08 09 10 * Adjusted net earnings, adjusted net earnings per share, adjusted operating cash fl ow, and adjusted operating cash fl ow per share fi gures used throughout this report are non-GAAP fi nancial measures which are meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with GAAP. Please refer to the reconciliation of non-GAAP fi nancial measures located at the end of this report. MINERAL RESERVES & RESOURCES (As at December 31 for each year shown) Adjusted Operating Adjusted Net Earnings Margin per Ounce Sold† Proven and Probable Measured and Indicated Inferred Gold Cash Flow* Per Share* (attributable) Gold Mineral Reserves Gold Mineral Resources Mineral Resources ($ millions) ($/share) (million gold ounces) (million gold ounces) (million gold ounces) 1,091 0.58 683 +247% +87% +108% 937 530 62.4 0.44 24.0 17.7 0.40 16.6 436 20.8 51.0 635 46.6 45.6 13.7 0.31 16.2 329 11.1 314 7.0 07 08 09 10 07 08 09 10 07 08 09 10 07 08 09 10 07 08 09 10 07 08 09 10 † Attributable margin per ounce sold is defi ned as average realized gold price per ounce less attributable cost of sales per gold equivalent ounce sold. OperatiOns and GrOwth prOjects OPERATIONS GROWTH PROJECTS CORPORATE OFFICE, TORONTO, CANADA Proven and Measured and Production probable indicated Inferred gold 2 2 (gold equiv. oz.) gold reserves gold resources 2 resources Location Ownership (attributable) 1 (mm oz.) (mm oz.) (mm oz.) UnIted StateS Fort Knox (alaska) 100% 349,729 3.6 2.2 0.2 Kettle River-Buckhorn (Washington) 100% 198,810 0.6 — 0.1 Round Mountain (nevada) 50% 184,554 1.3 1.1 0.4 Russia Kupol 75% 554,008 2.5 — 0.3 dvoinoye 100% — — 1.1 0.4 BRazIL Paracatu 100% 482,397 18.5 3.8 1.6 Crixás 50% 74,777 0.4 0.1 0.4 ChILe Maricunga 100% 156,590 6.1 3.4 3.0 La Coipa 100% 196,330 0.9 0.5 0.5 Lobo-Marte 100% — 6.0 0.9 2.8 Cerro Casale 25% — 5.8 0.8 1.5 EcuadOR Fruta del norte 100% — 6.8 0.6 3.5 WeSt aFRICa tasiast (Mauritania) 100% 56,611 3 7.6 2.1 8.6 Chirano (Ghana) 90% 80,298 3 2.4 0.2 0.2 Canada White Gold (Yukon) 100% — — 1.0 0.6 TotaL 2,334,104 62.4 17.7 24.0 1 “Attributable” includes Kinross’ share of Kupol (75%) and Chirano (90%) production. 2 Please refer to Kinross’ Mineral Reserve and Mineral Resource Statement at December 31, 2010 located at the end of this report. Figures for Mineral Reserves and Resources reported in this table have been rounded. Totals may not reconcile due to rounding. 3 Production results are subsequent to the close of the Red Back acquisition on September 17, 2010. 02 LETTER TO SHAREHOLDERS For Kinross, 2010 can justifiably be called a year of transformation. Amid the strongest gold market in decades, we delivered solid results at our mines and completed key transactions that set the Company on an industry-leading growth trajectory, while building the organizational strength to maximize the remarkable opportunity that lies ahead for our shareholders. Our friendly acquisition of Red Back Mining was one of the mining world’s biggest stories of 2010, dramatically changing the face of Kinross. It added immediate new production from two producing mines, Tasiast and Chirano, and expanded our operations into a new and fast-growing region — West Africa. Most important, it transformed Kinross into the gold industry’s fastest-growing Tye W. Burt senior producer. At a time when high-quality gold deposits have become President and CEO increasingly difficult to find, Tasiast has added new reserves and resources at an unprecedented rate, contributing to a 23% net increase in Kinross’ overall proven and probable gold reserves in 2010. Fuelled by the expansion we plan at Tasiast, and by our other high-quality growth projects, Kinross expects to double its gold production from 2010 levels to approximately 4.5 — 4.9 million ounces by 2015. That rate of growth is unequalled among senior gold producers. Our rate of In 2010, Kinross made other key moves to optimize our global portfolio. Early in the year, we expanded and consolidated our holdings in Russia’s Far East, growth is closing the acquisitions of the Dvoinoye deposit and Vodorazdelnaya property unequalled in Chukotka, and acquiring additional interests in the Kupol East and West properties adjacent to Kupol. We completed the acquisition of Underworld among senior Resources in northern Canada, adding a new project in a highly prospective region. We sold half of our 50% share in Cerro Casale, scaling the project to a gold producers. more optimal size within our portfolio. We sold our shares in Harry Winston and our indirect interest in the Diavik Diamond Mines joint venture, realizing a major gain for our shareholders and generating cash to help fund our growth.
Load more

Recommended publications
  • Significance of Mineralogy in the Development of Flowsheets for Processing Uranium Ores
    JfipwK LEACHING TIME REAGENTS TEMPERATURE FLOCCULANT CLARITY AREA COUNTER CURRENT DECANTATION It 21 21 J^^LJt TECHNICAL REPORTS SERIES No.19 6 Significance of Mineralogy in the Development of Flowsheets for Processing Uranium Ores \W# INTERNATIONAL ATOMIC ENERGY AGENCY, VIENNA, 1980 SIGNIFICANCE OF MINERALOGY IN THE DEVELOPMENT OF FLOWSHEETS FOR PROCESSING URANIUM ORES The following States are Members of the International Atomic Energy Agency: AFGHANISTAN HOLY SEE PHILIPPINES ALBANIA HUNGARY POLAND ALGERIA ICELAND PORTUGAL ARGENTINA INDIA QATAR AUSTRALIA INDONESIA ROMANIA AUSTRIA IRAN SAUDI ARABIA BANGLADESH IRAQ SENEGAL BELGIUM IRELAND SIERRA LEONE BOLIVIA ISRAEL SINGAPORE BRAZIL ITALY SOUTH AFRICA BULGARIA IVORY COAST SPAIN BURMA JAMAICA SRI LANKA BYELORUSSIAN SOVIET JAPAN SUDAN SOCIALIST REPUBLIC JORDAN SWEDEN CANADA KENYA SWITZERLAND CHILE KOREA, REPUBLIC OF SYRIAN ARAB REPUBLIC COLOMBIA KUWAIT THAILAND COSTA RICA LEBANON TUNISIA CUBA LIBERIA TURKEY CYPRUS LIBYAN ARAB JAMAHIRIYA UGANDA CZECHOSLOVAKIA LIECHTENSTEIN UKRAINIAN SOVIET SOCIALIST DEMOCRATIC KAMPUCHEA LUXEMBOURG REPUBLIC DEMOCRATIC PEOPLE'S MADAGASCAR UNION OF SOVIET SOCIALIST REPUBLIC OF KOREA MALAYSIA REPUBLICS DENMARK MALI UNITED ARAB EMIRATES DOMINICAN REPUBLIC MAURITIUS UNITED KINGDOM OF GREAT ECUADOR MEXICO BRITAIN AND NORTHERN EGYPT MONACO IRELAND EL SALVADOR MONGOLIA UNITED REPUBLIC OF ETHIOPIA MOROCCO CAMEROON FINLAND NETHERLANDS UNITED REPUBLIC OF FRANCE NEW ZEALAND TANZANIA GABON NICARAGUA UNITED STATES OF AMERICA GERMAN DEMOCRATIC REPUBLIC NIGER URUGUAY GERMANY, FEDERAL REPUBLIC OF NIGERIA VENEZUELA GHANA NORWAY VIET NAM GREECE PAKISTAN YUGOSLAVIA GUATEMALA PANAMA ZAIRE HAITI PARAGUAY ZAMBIA PERU The Agency's Statute was approved on 23 October 1956 by the Conference on the Statute of the IAEA held at United Nations Headquarters, New York; it entered into force on 29 July 1957.
    [Show full text]
  • Curbing Illicit Mercury and Gold Flows in West Africa: Options for a Regional Approach
    Curbing Illicit Mercury and Gold Flows in West Africa: Options for a Regional Approach i INCLUSIVE AND SUSTAINABLE INDUSTRIAL DEVELOPMENT ii Curbing Illicit Mercury and Gold Flows in West Africa: Options for a Regional Approach iii November 2018 iv © UNIDO 2018. All rights reserved. This document has been produced without formal United Nations editing. The designations employed and the presentation of the material in this document do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations Industrial Development Organization (UNIDO) concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries, or its economic system or degree of development. Designations such as ‘developed’, ‘industrialized’ or ‘developing’ are intended for statistical convenience and do not necessarily express a judgement about the stage reached by a particular country or area in the development process. Mention of firm names or commercial products does not constitute an endorsement by UNIDO. Unless otherwise men- tioned, all references to sums of money are given in United States dollars. References to ‘tons’ are to metric tons, unless otherwise stated. All photos © UNIDO unless otherwise stated. Cover photo by Sadibou Sylla Acknowledgements This report was authored by Marcena Hunter of the Global Initiative Against Transnational Organized Crime. The report is part of the United Nations Industrial Development Organization (UNIDO) project, funded by the Government of Switzerland, to assist the Economic Community of West African States (ECOWAS) in its early implementation of the Minamata Convention. More information about the Minamata Convention and UNIDO’s work can be found on UNIDO’s website <https://www.unido.org/mercury> or by emailing Gabriela Eigenmann at [email protected].
    [Show full text]
  • Full Portfolio Holdings
    Hartford Multifactor International Fund Full Portfolio Holdings* as of August 31, 2021 % of Security Coupon Maturity Shares/Par Market Value Net Assets Merck KGaA 0.000 152 36,115 0.982 Kuehne + Nagel International AG 0.000 96 35,085 0.954 Novo Nordisk A/S 0.000 333 33,337 0.906 Koninklijke Ahold Delhaize N.V. 0.000 938 31,646 0.860 Investor AB 0.000 1,268 30,329 0.824 Roche Holding AG 0.000 74 29,715 0.808 WM Morrison Supermarkets plc 0.000 6,781 26,972 0.733 Wesfarmers Ltd. 0.000 577 25,201 0.685 Bouygues S.A. 0.000 595 24,915 0.677 Swisscom AG 0.000 42 24,651 0.670 Loblaw Cos., Ltd. 0.000 347 24,448 0.665 Mineral Resources Ltd. 0.000 596 23,709 0.644 Royal Bank of Canada 0.000 228 23,421 0.637 Bridgestone Corp. 0.000 500 23,017 0.626 BlueScope Steel Ltd. 0.000 1,255 22,944 0.624 Yangzijiang Shipbuilding Holdings Ltd. 0.000 18,600 22,650 0.616 BCE, Inc. 0.000 427 22,270 0.605 Fortescue Metals Group Ltd. 0.000 1,440 21,953 0.597 NN Group N.V. 0.000 411 21,320 0.579 Electricite de France S.A. 0.000 1,560 21,157 0.575 Royal Mail plc 0.000 3,051 20,780 0.565 Sonic Healthcare Ltd. 0.000 643 20,357 0.553 Rio Tinto plc 0.000 271 20,050 0.545 Coloplast A/S 0.000 113 19,578 0.532 Admiral Group plc 0.000 394 19,576 0.532 Swiss Life Holding AG 0.000 37 19,285 0.524 Dexus 0.000 2,432 18,926 0.514 Kesko Oyj 0.000 457 18,910 0.514 Woolworths Group Ltd.
    [Show full text]
  • BMO Junior Gold Index ETF (ZJG) Summary of Investment Portfolio • As at September 30, 2015
    QUARTERLY PORTFOLIO DISCLOSURE BMO Junior Gold Index ETF (ZJG) Summary of Investment Portfolio • As at September 30, 2015 % of Net Asset % of Net Asset Portfolio Allocation Value Holdings* Value Canada . 68.1 Royal Gold, Inc. 15.3 United States. 16.4 Kinross Gold Corporation . 11.3 Nicaragua . 5.5 Detour Gold Corporation. 10.3 Turkey. 3.7 Yamana Gold Inc. 9.0 Guyana . 2.3 New Gold Inc. 6.5 Mexico . 2.1 B2Gold Corp. 5.5 China . 1.9 Alamos Gold Inc. 5.4 Centerra Gold Inc. 5.1 Total Portfolio Allocation 100.0 NovaGold Resources Inc. 4.8 Torex Gold Resources Inc.. 4.2 % of Net Asset Alacer Gold Corporation . 3.7 Sector Allocation Value IAMGOLD Corporation. 3.6 Gold . 100.0 Semafo Inc.. 3.6 OceanaGold Corporation. 2.5 Total Sector Allocation 100.0 Guyana Goldfields Inc. 2.3 Primero Mining Corp. 2.1 China Gold International Resources Corp. Ltd. 1.9 Sandstorm Gold Ltd. 1.8 McEwen Mining Inc.. 1.1 NovaCopper Inc.** . 0.0 Total Holdings as a Percentage of Total Net Asset Value 100.0 Total Net Asset Value $36,269,676 *Represents entire portfolio. **Holdings of less than 0.05% are rounded to 0.0%. This Summary of Investment Portfolio may change due to the ETF’s ongoing portfolio transactions. Updates are available quarterly. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. The exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
    [Show full text]
  • S Ndlovu (PDF)
    Extraction of Gold Then, Now and the Future Prof Sehliselo Ndlovu DST/NRF SARChI: Hydrometallurgy and Sustainable Development University of the Witwatersrand, Johannesburg Building a Robust Minerals Industry 3 – 4 July 2017, Cresta Lodge, Harare University of the Witwatersrand Johannesburg Founded Oct. 1896: School of Mines Approx. 37 000 Students 5 Faculties, 33 Schools, 3610 Courses >160 000 Degrees Conferred since 1922 55% Female Students 10 National Centres of Excellence Home to the Bidvest Football Club( Current PSL league Champions) Evolution in Gold Processing Past Technologies • Amalgamation • Panning Current Technologies • Cyanide leaching • Processing of Emerging and Future refractory ores Technologies • Bio-oxidation • Ionic liquids • Alternative leaching • Ultrasonic leaching reagents • Corn starch?? Past Technologies Used in Ancient Times History of gold extends back at least 6,000 years. Egypt and Mesopotamia around 4000 BC. Gravity Separation: Gold Panning Gold concentrated by washing lighter river sands with water Leaves dense gold particles Alternative- wash gold-bearing sand and gravel over a woollen fleece Traps heavier gold dust that would sink into the wool fibres. Advantages • Simplicity Disadvantages • Labour intensive Gravity Separation: Sluicing • Water is channelled to flow through a sluice-box. • Sluice-box is essentially a man-made channel with riffles (barriers) at the bottom. • Riffles create dead-zones in the water current which allows gold to drop out of suspension. Sluicing and panning results in the direct recovery of small gold nuggets and flakes. Gold Parting: Salt Cementation Process • Invented to remove Ag from Au-Ag mixtures around 6th century BC. Mix: argentiferous gold foil, common salt, brick dust or burnt clay and urine in a sealed container.
    [Show full text]
  • Annual Information Form February 26, 2018
    Annual Information Form February 26, 2018 2017 Annual Information Form Table of Contents Nomenclature ................................................................................................................................................ 1 Cautionary Statement on Forward-Looking Information ............................................................................... 1 Glossary of Technical Terms ........................................................................................................................ 7 Corporate Structure ....................................................................................................................................... 9 Name, Address and Incorporation ........................................................................................................... 9 Intercorporate Relationships .................................................................................................................. 10 General Development of the Business ....................................................................................................... 12 Three-Year History ................................................................................................................................. 12 2015 .................................................................................................................................................. 12 2016 .................................................................................................................................................
    [Show full text]
  • Recovery of Gold and Iron from Cyanide Tailings with a Combined Direct Reduction Roasting and Leaching Process
    metals Article Recovery of Gold and Iron from Cyanide Tailings with a Combined Direct Reduction Roasting and Leaching Process Pingfeng Fu 1,2,* ID , Zhenyu Li 1, Jie Feng 1 and Zhenzhong Bian 1 1 School of Civil and Resources Engineering, University of Science and Technology Beijing, Beijing 100083, China; [email protected] (Z.L.); [email protected] (J.F.); [email protected] (Z.B.) 2 Key Laboratory of High-Efficient Mining and Safety of Metal Mines, Ministry of Education, Beijing 100083, China * Correspondence: [email protected]; Tel.: +86-10-6233-2902 Received: 25 June 2018; Accepted: 19 July 2018; Published: 21 July 2018 Abstract: Cyanide tailings are the hazardous waste discharged after gold cyanidation leaching. The recovery of gold and iron from cyanide tailings was investigated with a combined direct reduction roasting and leaching process. The effects of reduction temperature, coal dosage and CaO dosage on gold enrichment into Au-Fe alloy (FexAu1−x) were studied in direct reduction roasting. Gold containing iron powders, i.e., Au-Fe alloy, had the gold grade of 8.23 g/t with a recovery of 97.46%. After separating gold and iron in iron powders with sulfuric acid leaching, ferrous sulfate in the leachate was crystallized to prepare FeSO4·7H2O with a yield of 222.42% to cyanide tailings. Gold enriched in acid-leaching residue with gold grade of 216.58 g/t was extracted into pregnant solution. The total gold recovery of the whole process reached as high as 94.23%. The tailings generated in the magnetic separation of roasted products, with a yield of 51.33% to cyanide tailings, had no toxic cyanide any more.
    [Show full text]
  • Teck Annual Information Form
    ANNUAL INFORMATION FORM March 15, 2010 TECK RESOURCES LIMITED Suite 3300, 550 Burrard Street Vancouver, British Columbia V6C 0B3 An additional copy of this Annual Information Form may be obtained upon request from the Corporate Secretary, Teck Resources Limited at the above address or from the company’s web site – www.teck.com TABLE OF CONTENTS NOMENCLATURE ................................................................................................................................................. III CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION ............................................... III GLOSSARY OF TECHNICAL TERMS ............................................................................................................... VI CORPORATE STRUCTURE .................................................................................................................................... 1 NAME, ADDRESS AND INCORPORATION ........................................................................................................ 1 INTERCORPORATE RELATIONSHIPS ................................................................................................................ 1 GENERAL DEVELOPMENT OF THE BUSINESS ............................................................................................... 3 THREE-YEAR HISTORY ....................................................................................................................................... 3 2007 .....................................................................................................................................................................
    [Show full text]
  • Refugio Oil Spill Response & Recovery
    Refugio Oil Spill Response & Recovery Incident Summary • On 19 May 2015 at 1243, report to the Governor’s Office of Emergency Services • The report indicated a pipeline rupture had occurred near Refugio State Beach in Santa Barbara County, CA • The responsible party (Plains All American Pipeline) estimated the total release at 500 barrels (21,000 gallons) of crude oil on the shoreside of Hwy 101 which then flowed into the Pacific Ocean • 23x7 mile (138 square mile) fishery closure Incident Summary (con’t) • Initial reports estimated a sheen to be 3.5 NM along the beach and 50-100 yards into the water • Revised worst-case release: 101,000 gal (2,400 bbl) • On May 19, Governor Brown declared a State of Emergency for Santa Barbara County • On June 5, Governor Brown issued a subsequent Executive Order to Further Expedite Oil Spill Recovery Efforts in Santa Barbara County Location of Incident (Approximately 25 miles west of Santa Barbara) Incident Command Post Shoreline below the cliff Photo Courtesy of CDFW‐OSPR Refugio State Beach Photo Courtesy of NOAA Significant Environmental, Cultural, Historical & Social Concerns • 2 Marine Protected Areas (Kashtayit & Naples) • 23‐mile by 7‐mile mile fishery closure • Wildlife impacts – birds, mammals, Grunion Spawning • Chumash Indian Tribe – 2,000 ‐ 5,000 members coastal members – Inhabitants of SB Coast for over 13,000 years • Varied Beach composition & environments: – Cobble, Rock, Sand, Cliffs, Kelp, Marinas, Parks Areas of Special Interest/Concerns Volunteers Extensive Fisheries Closure Zone Cultural and Tribal Integration Wildlife Operation - marine mammals NGO and community involvement At Maximum Effort • Personnel – 1287 in field – 129 in ICP • Vessels on water – 21 skimmers – 2 support barges • 6,000 ft boom deployed • 5 SCAT teams deployed • 23 x 7 mile fishery closure • 1000‐ft temporary flight restriction within a 5‐mile radius of Refugio Beach – Daily responder overflights Unified Command Established USCG Sector LA‐LB Sector Commander, EPA Region 9, CA DFW, Santa Barbara Co OEM, Plains All American.
    [Show full text]
  • Simulation Study of the Optimal Distribution of Cyanide in a Gold Leaching Circuit
    Minerals Engineering 19 (2006) 1319–1327 This article is also available online at: www.elsevier.com/locate/mineng Simulation study of the optimal distribution of cyanide in a gold leaching circuit L.R.P. de Andrade Lima a,b,*, D. Hodouin a a Department of Mining, Metallurgical, and Materials Engineering, Laval University, Quebec City, Canada G1K 7P4 b Department of Materials Science and Technology, Federal University of Bahia, C.P. 6974, Salvador, BA 40810-971, Brazil Received 25 September 2005; accepted 1 December 2005 Available online 19 January 2006 Abstract The mineral industry has been using cyanidation to recover gold from ores for more than a century; however, a systematic study of the best reactant addition strategy in a cascade of agitated leaching tanks is not available in the open literature. A phenomenological math- ematical model of the gold cyanidation process, calibrated with a set of industrial data from an Australian plant, together with an eco- nomic performance index is used to analyze this problem. The simulated results show that the best compromise between the two antagonistic effects, cyanide consumption and gold recovery, which are both function of cyanide concentrations, leads to a reagent dis- tribution that depends on the leaching and cyanide consumption kinetics, pulp feed characteristics, and economic factors such as the gold market value. For the specific studied plant, in the operating range of low cyanide consumption and fast gold dissolution, all the cyanide must be added in the first tank; however, in the operating conditions of high cyanide consumption, cyanide has to be distributed in the first, second and third tanks.
    [Show full text]
  • UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT of TEXAS HOUSTON DIVISION ) in Re: ) Chapter 11 ) WHITING PETROLEUM CORPORATION, ) Case No
    Case 20-32021 Document 362 Filed in TXSB on 05/21/20 Page 1 of 147 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION ) In re: ) Chapter 11 ) WHITING PETROLEUM CORPORATION, ) Case No. 20-32021 (DRJ) et al.,1 ) ) Debtors. ) (Jointly Administered) ) GLOBAL NOTES AND STATEMENT OF LIMITATIONS, METHODOLOGIES, AND DISCLAIMERS REGARDING THE DEBTORS’ SCHEDULES OF ASSETS AND LIABILITIES AND STATEMENTS OF FINANCIAL AFFAIRS The Schedules of Assets and Liabilities (collectively with attachments, the “Schedules”) and the Statements of Financial Affairs (collectively with attachments, the “Statements,” and together with the Schedules, the “Schedules and Statements”), filed by the above-captioned debtors and debtors in possession (collectively, the “Debtors”), were prepared pursuant to section 521 of title 11 of the United States Code (the “Bankruptcy Code”) and rule 1007 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) by the Debtors’ management, with the assistance of the Debtors’ advisors, and are unaudited. These Global Notes and Statement of Limitations, Methodologies, and Disclaimers Regarding the Debtors’ Schedules of Assets and Liabilities and Statements of Financial Affairs (the “Global Notes”) are incorporated by reference in, and comprise an integral part of, each Debtor’s respective Schedules and Statements, and should be referred to and considered in connection with any review of the Schedules and Statements. While the Debtors’ management has made reasonable efforts to ensure that the Schedules and Statements are as accurate and complete as possible under the circumstances, based on information that was available at the time of preparation, inadvertent errors, inaccuracies, or omissions may have occurred or the Debtors may discover subsequent information that requires material changes to the Schedules and Statements.
    [Show full text]
  • Check out This Factsheet on the Project
    The GETFACTS ABOUT PLAINSPIPELINE’S NEW THREAT TO COASTAL CALIFORNIA Plains All American Pipeline caused California’s worst coastal oil spill in 25 years – the Refugio Oil Spill of 2015 – and now it wants a second chance to spill again. anta Barbara County is processing Plains’ application to build another coastal oil pipeline that would restart Sdrilling from six decrepit offshore oil platforms in the Santa Barbara Channel. Houston-based Plains was criminally negligent in allowing its previous coastal oil pipeline to become corroded and fail, coating Santa Barbara area beaches in crude and killing hundreds of birds and marine mammals. It doesn’t deserve another opportunity to kill threatened wildlife, poison our communities and wreck the climate. THE PROJECT • Plains All American Pipeline is proposing to build more than 123 miles of new oil pipeline through Santa Barbara (73 miles), San Luis Obispo (37 miles) and Kern counties (14 miles), transporting heavy crude pumped from offshore drilling platforms to onshore processing facilities. Plains also proposes to abandon in place about 123 miles of its old failed oil pipelines. • The new pipeline will mostly follow the same route as the old broken pipeline – which was built based on environmental studies done in the late ‘80s – in a rapidly changing coastal zone that is now being affected by coastal erosion, sea level rise and other impacts from climate change. HISTORY OF VIOLATIONS • Investigators responding to a massive coastal oil spill near Refugio State Beach in 2015 found the source, Plains’ Pipeline 901, to be severely corroded and poorly maintained. In September 2018, a Santa Barbara jury found Plains guilty of a felony for failing to properly maintain its pipeline and eight misdemeanor charges for a delay in reporting the spill and for its deadly impact on protected wildlife.
    [Show full text]