Canadian miner Kinross Gold reported a better-than-expected quarterly profit on Wednesday, helped by record output at its third biggest mine, Tasiast, and higher gold prices.
Gold prices rose 18% in 2019, as investors sought safety in safe-havens due to political uncertainty, US-China trade war and concerns on slowing global growth.
The company’s average realised gold price rose 21% to $1 485/oz from $1 226 an year earlier, while total production rose 5.8% to 645 344 gold equivalent ounces (GEO).