UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2002.
KINROSS GOLD CORPORATION
52nd Floor, Scotia Plaza, 40 King Street West
Toronto, Ontario M5H 3Y2
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F |_| Form 40-F [x]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| No [x]
Page 2
INDEX
Press Release dated October 16, 2002 Page 3
Material Change Report dated October 17, 2002 Page 4-5
Signature Page Page 6
Page 3
Press Release
Toronto, Canada - October 16, 2002 - Kinross Gold Corporation (TSX-K; Amex-KGC)
is pleased to announce that its 54.7%-owned Russian subsidiary, Omolon Gold
Mining Company, has reached agreement in principle with the Magadan
Administration representing itself and a majority of the Russian shareholders of
Omolon. Under the agreement in principle, Omolon will offer to purchase the
outstanding shares currently held by all the Russian shareholders for the Ruble
equivalent of US$ 45.4 million and the Administration will ensure that all of
these shares will be tendered to this offer. This arrangement will allow the
debt owed to the local Administration by the Russian shareholders to be repaid.
After consummation of the transaction, Omolon would become a 100%-owned Kinross
subsidiary. Following implementation of the agreement in principle, Kinross
expects that all pending lawsuits commenced by the Russian shareholders will be
terminated in the process of completing this transaction. This transaction is
expected to close by mid November 2002, and funds to complete this transaction
will be paid out of Omolon's cash on hand. This agreement was facilitated by
participation of representatives from the Ministry of Finance of the Russian
Federation, who will continue to play a role in implementing the transaction.
While the process of purchasing these shareholdings has taken a great deal of
time, Kinross believes that the decision to buy out the Russian shareholders and
resolve the outstanding lawsuits is in the best interests of both Kinross and
the Russian Government and we look forward to working with the local
Administration to develop a plan to put Birkachan into production in 2004. In
the meantime, the open pit mining phase of the high grade Kubaka deposit
concluded on October 7, 2002 and the mill will continue to process stockpiled
ore supplemented with ore from the residual mining of Kubaka by underground
methods in 2003. Resumption of exploration at Birkachan and other nearby targets
is expected to restart in November.
This press release includes certain "Forward-Looking Statements" within the
meaning of section 21E of the United States Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact, included
herein, including without limitation, statements regarding potential
mineralization and reserves, exploration results and future plans and objectives
of Kinross Gold Corporation ("Kinross"), are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from Kinross' expectations
are disclosed under the heading "Risk Factors" and elsewhere in Kinross'
documents filed from time to time with the Toronto Stock Exchange, the United
States Securities and Exchange Commission and other regulatory authorities.
For further information: e-mail info@kinross.com or contact:
Robert M. Buchan Gordon A. McCreary
President and Chief Executive Officer Vice President, Investor Relations
Tel. (416) 365-5650 and Corporate Development
Tel. (416) 365-5132
Page 4
KINROSS GOLD CORPORATION
MATERIAL CHANGE REPORT
Item 1. Reporting Issuer
The reporting issuer filing this material change report is Kinross Gold
Corporation ("Kinross").
Item 2. Dates of Material Changes
October 16, 2002
Item 3. Press Releases
Press release was issued by Kinross in Toronto on October 16, 2002 with respect
to the material change and filed via SEDAR.
Item 4. Summary of Material Change
On October 16, 2002 Kinross announced that its 54.7%-owned Russian subsidiary,
Omolon Gold Mining Company, has reached an agreement in principle with the
Magadan Administration representing itself and a majority of the Russian
shareholders of Omolon. Under the agreement in principle, Omolon will offer to
purchase the outstanding shares currently held by all the Russian shareholders
for the Ruble equivalent of US$ 45.4 million and the Administration will ensure
that all of these shares will be tendered to this offer.
Item 5. Full Description of Material Change
Kinross announced that its 54.7%-owned Russian subsidiary, Omolon Gold Mining
Company, has reached an agreement in principle with the Magadan Administration
representing itself and a majority of the Russian shareholders of Omolon. Under
the agreement in principle, Omolon will offer to purchase the outstanding shares
currently held by all the Russian shareholders for the Ruble equivalent of US$
45.4 million and the Administration will ensure that all of these shares will be
tendered to this offer. This arrangement will allow the debt owed to the local
Administration by the Russian shareholders to be repaid. After consummation of
the transaction, Omolon would become a 100%-owned Kinross subsidiary. Following
implementation of the agreement in principle, Kinross expects that all pending
lawsuits commenced by the Russian shareholders will be terminated in the process
of completing this transaction. This transaction is expected to close by mid
November 2002, and funds to complete this transaction will be paid out of
Omolon's cash on hand. This agreement was facilitated by
Page 5
participation of representatives from the Ministry of Finance of the Russian
Federation, who will continue to play a role in implementing the transaction.
While the process of purchasing these shareholdings has taken a great deal of
time, Kinross believes that the decision to buy out the Russian shareholders and
resolve the outstanding lawsuits is in the best interests of both Kinross and
the Russian Government and we look forward to working with the local
Administration to develop a plan to put Birkachan into production in 2004. In
the meantime, the open pit mining phase of the high grade Kubaka deposit
concluded on October 7, 2002 and the mill will continue to process stockpiled
ore supplemented with ore from the residual mining of Kubaka by underground
methods in 2003. Resumption of exploration at Birkachan and other nearby targets
is expected to restart in November.
Item 6. Reliance on Section 75(3) of the Securities Act (Ontario) and analogous
securities legislation of each of the other provinces of Canada.
N/A
Item 7. Omitted Information
N/A
Item 8. Senior Officer
Ms. Shelley M. Riley
Corporate Secretary
Telephone: (416) 365-5198
Facsimile: (416) 365-0237
Item 9. Statement of Senior Officer
The foregoing accurately discloses the material change referred to
herein.
DATED at Toronto this 17th day of October, 2002.
KINROSS GOLD CORPORATION
PER: /s/ Shelley M. Riley
------------------------
Shelley M. Riley
Corporate Secretary
Page 6
SIGNATURE
Pursuant to the requirements of Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
KINROSS GOLD CORPORATION
Signed: /s/ Shelley M. Riley
------------------------
Shelley M. Riley
Corporate Secretary
October 17, 2002