SMM10 March 20: Canadian mining company Kinross Gold is reportedly considering selling its gold mines in North and South America and moving its primary market-listed shares to London to increase the company's value. The sale of these assets could generate billions of dollars in revenue for the company and could attract interest from top miners.
In addition, the company plans to double its asset investments in Russia and West Africa, according to people familiar with the matter.
The company will pay dividends within seven years this week, according to the report, which believes that the overhaul time is "the most favorable" as gold prices soar to record levels.
Analysts agree that there is still room for improvement in Jinrose's valuation. The stock is still trading well below its 2008 high of nearly $25. It has a market capitalization of $11.46 billion, less than many of its peers, including Kirkland Lake Gold (TSE,NYSE:KL ($13.6 billion) and Agnico Eagle Mines (TSE,NYSE:AEM ($19.5 billion).
Kinross is one of the top ten gold producers in the world and has four mines in the Americas.
The company recently announced plans to increase production to 2.9 million gold equivalent ounces over the next three years.
