<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>tex99_3-4059.txt
<DESCRIPTION>EX-99.3
<TEXT>
<PAGE>

                                  FORM 51-102F3
                             MATERIAL CHANGE REPORT

   ITEM 1.     NAME AND ADDRESS OF COMPANY
               Kinross Gold Corporation ("Kinross" or the "Company"),
               52nd Floor, 40 King St. West,
               Toronto, ON  M5H 3Y2

   ITEM 2.     DATE OF MATERIAL CHANGE
               November 15, 2004.

   ITEM 3.     NEWS RELEASE

               News release was issued by Kinross in Toronto on November 15,
               2004 with respect to the material change and filed via SEDAR.

   ITEM 4.     SUMMARY OF MATERIAL CHANGE

Kinross announced that during the third quarter it changed the methodology by
which it allocates the goodwill amongst its assets, and recognized a $143.0
million reduction of the goodwill associated with its Paracatu mine in Brazil,
creating a net loss for the quarter of ($133.6) million as opposed to the
previously reported earnings of $9.4 million.

   ITEM 5.     FULL DESCRIPTION OF MATERIAL CHANGE

Kinross announced that during the third quarter it changed the methodology by
which it allocates the goodwill amongst its assets, and recognized a $143.0
million reduction of the goodwill associated with its Paracatu mine in Brazil,
creating a net loss for the quarter of ($133.6) million as opposed to the
previously reported earnings of $9.4 million.

When Kinross merged with TVX Gold Inc. ("TVX") and Echo Bay Mines Ltd. ("Echo
Bay") on January 31, 2003 the transaction was accounted for as a purchase of the
assets of TVX and Echo Bay. The purchase price had to be then allocated to the
assets acquired. A calculation of the "hard asset" value was done for each
property and that amount was then recorded as the tangible net book value ("book
value") for those assets. The total purchase price exceeded the book value by
$918.0 million and this was recorded on the balance sheet as goodwill.

The goodwill arose because the Kinross stock (like many other gold stocks), that
was issued to acquire these assets, trades at a premium to the underlying net
asset value. For accounting purposes, assets are valued and recorded on the
books using traditional net asset valuations and, simply put, the premium is
reflected in the goodwill.

Originally, Kinross allocated all of the goodwill to the Exploration and
Acquisitions business unit. The methodology for allocating and testing goodwill
in the gold mining industry is in a state of flux as evidenced by Emerging
Issues Task Force ("EITF") bulletin 04-04, and the Company has, with input from
its auditors and another independent major accounting firm, spent a great deal
of time, money and effort in arriving at the current methodology. As a result of
recent guidance provided in the EITF bulletin No. 04-03 and enquiries from
securities regulators, Kinross has reallocated the goodwill from the Exploration
and Acquisitions reporting unit to certain of the mines and development
properties that were acquired in the TVX / Echo Bay transaction. Kinross has
disclosed this new allocation in its third quarter financial statements, filed
on SEDAR and EDGAR on November 15, 2004.

<PAGE>

The Canadian Institute of Chartered Accountants ("CICA") Handbook section 3062
("Goodwill and Other Intangible Assets") requires that goodwill no longer be
amortized but instead be tested annually for impairment unless a "triggering
event" requires earlier testing. If the goodwill recorded is higher than the
implied fair value of goodwill, an impairment charge is recorded in the period.

Goodwill was tested for impairment on December 31, 2003 using both the original
and revised methodology of assigning goodwill to reporting units. The value of
the assets tested exceeded both book value and goodwill recorded, and no
impairment was noted.

On November 9, 2004, Kinross announced the acquisition of its joint venture
partner's 51% interest in the Paracatu mine in Brazil for $260.0 million. Under
the accounting rules (CICA handbook section 3062) this acquisition constituted a
"triggering event" which required the Company to test the goodwill associated
with its 49% interest in the Paracatu mine. The book value of the 49% interest
in Paracatu interest is $104.1 million and the goodwill assigned thereto is
$207.0 million giving a total value of $311.1 million, which exceeds the $260.0
million paid for the 51% interest of the asset. As a general rule, acquisitions
of properties for cash in the gold industry are done at lower values than
corporate transactions like the merger with TVX and Echo Bay.

The Company has estimated the goodwill associated with the 49% interest in
Paracatu should be reduced by at least $143.0 million. The impact of this is
reflected in the financial statements filed on SEDAR and EDGAR and on Kinross'
website (WWW.KINROSS.COM). Although the difference between the $260.0 million
cost of the 51% of the mine to be acquired and the book value of $311.1 million
assigned to the already owned 49% is only $51.0 million, the accounting rules
forced Kinross to a write-down of almost three times that amount. This is
because goodwill must be written down, but an implied increase in the tangible
net book value of the 49% interest cannot be recognized. This goodwill reduction
is a non-cash charge, which impacts earnings for the third quarter and nine
months ended September 30, 2004, but does not impact cash flow.

As a result of this exercise, the Company will perform a similar analysis on the
goodwill assigned to its other reporting units and any further non-cash
reductions required will be recorded on completion of the analysis.

   ITEM 6.     RELIANCE ON SUBSECTION 7.1(2) OR (3) OF NATIONAL INSTRUMENT
               51-102 N/A

   ITEM 7.     OMITTED INFORMATION
               N/A

   ITEM 8.     EXECUTIVE OFFICER
               Ms. Shelley M. Riley
               Corporate Secretary
               Telephone: (416) 365-5198
               Facsimile: (416) 365-0237

   ITEM 9.     DATE OF REPORT
               November 15, 2004.

<PAGE>

                                        KINROSS GOLD CORPORATION

                                        PER: /s/ Shelley Riley
                                                -----------------------
                                             Shelley Riley
                                             Corporate Secretary


<PAGE>

                                                 40 King Street West, 52nd Floor
                                                            Toronto, ON  M5H 3Y2
                                                               Tel: 416 365 5123
[LOGO] KINROSS                                                 Fax: 416 363 6622
         GOLD CORPORATION                                Toll Free: 866-561-3636
--------------------------------------------------------------------------------
                                                                   PRESS RELEASE


               KINROSS RECORDS THIRD QUARTER REDUCTION OF GOODWILL


NOVEMBER 15, 2004...TORONTO, ONTARIO - KINROSS GOLD CORPORATION (TSX-K;
NYSE-KGC) ("KINROSS") announces that during the third quarter it:

     -    changed the methodology by which it allocates the goodwill amongst its
          assets; and

     -    recognized a $143.0 million reduction of the goodwill associated with
          its Paracatu mine in Brazil, creating a net loss for the quarter of
          ($133.6) million as opposed to the previously reported earnings of
          $9.4 million

     -    Cash flow provided from operating activities of $62.5 million remains
          unchanged

When Kinross merged with TVX Gold Inc. ("TVX") and Echo Bay Mines Ltd. ("Echo
Bay") on January 31, 2003 the transaction was accounted for as a purchase of the
assets of TVX and Echo Bay. The purchase price had to be then allocated to the
assets acquired. A calculation of the "hard asset" value was done for each
property and that amount was then recorded as the tangible net book value ("book
value") for those assets. The total purchase price exceeded the book value by
$918.0 million and this was recorded on the balance sheet as goodwill.

The goodwill arose because the Kinross stock (like many other gold stocks) that
was issued to acquire these assets trades at a premium to the underlying net
asset value. For accounting purposes, assets are valued and recorded on the
books using traditional net asset valuations and, simply put, the premium is
reflected in the goodwill.

Originally, Kinross allocated all of the goodwill to the Exploration and
Acquisitions business unit. The methodology for allocating and testing goodwill
in the gold mining industry is in a state of flux as evidenced by Emerging
Issues Task Force ("EITF") bulletin 04-04, and the Company has, with input from
its auditors and another independent major accounting firm, spent a great deal
of time, money and effort in arriving at the current methodology. As a result of
recent guidance provided in the EITF bulletin No. 04-03 and enquiries from
securities regulators, Kinross has reallocated the goodwill from the Exploration
and Acquisitions reporting unit to certain of the mines and development
properties that were acquired in the TVX / Echo Bay transaction. Kinross has
disclosed this new allocation in its third quarter report, filed on SEDAR and
EDGAR on November 15, 2004.

The Canadian Institute of Chartered Accountants ("CICA") Handbook section 3062
("Goodwill and Other Intangible Assets") requires that goodwill no longer be
amortized but instead be tested annually for impairment unless a "triggering
event" requires earlier testing. If the goodwill recorded is higher than the
implied fair value of goodwill, an impairment charge is recorded in the period.


--------------------------------------------------------------------------------
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, 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. ALL FIGURES
ARE IN UNITED STATES DOLLARS UNLESS OTHERWISE STATED.

<PAGE>

Goodwill was tested for impairment on December 31, 2003 using both the original
and revised methodology of assigning goodwill to reporting units. The value of
the assets tested exceeded both book value and goodwill recorded, and no
impairment was noted.

On November 9, 2004, Kinross announced the acquisition of its joint venture
partner's 51% interest in the Paracatu mine in Brazil for $260.0 million.
Notwithstanding that by all measures this is a positive acquisition for Kinross,
under the accounting rules (CICA handbook section 3062) this acquisition
constituted a "triggering event" which required the Company to test the goodwill
associated with its 49% interest in the Paracatu mine. The book value of the 49%
interest in Paracatu interest is $104.1 million and the goodwill assigned
thereto is $207.0 million giving a total value of $311.1 million, which exceeds
the $260.0 million paid for the 51% interest of the asset. As a general rule,
acquisitions of properties for cash in the gold industry are done at lower
values than corporate transactions like the merger with TVX and Echo Bay.

It is clearly counter intuitive to write-down the value of gold assets in a
rising gold price environment. However, when the foregoing is taken into account
and the test of the goodwill as mandated by accounting principles is applied the
Company has estimated the goodwill associated with the 49% interest in Paracatu
should be reduced by at least $143.0 million. The impact of this is reflected in
the financial statements filed today on SEDAR and EDGAR and on Kinross' website
(WWW.KINROSS.COM). Although the difference between the $260.0 million cost of
the 51% of the mine to be acquired and the book value of $311.1 million assigned
to the already owned 49% is only $51.0 million, the accounting rules forced
Kinross to a write-down of almost three times that amount. This is because
goodwill must be written down, but an implied increase in the tangible net book
value of the 49% interest cannot be recognized. This goodwill reduction is a
non-cash charge, which impacts earnings for the third quarter and nine months
ended September 30, 2004, but does not impact cash flow.

As a result of this exercise, the Company will perform a similar analysis on the
goodwill assigned to its other reporting units and any further non-cash
reductions required will be recorded on completion of the analysis.

--------------------------------------------------------------------------------
For additional information, e-mail INFO@KINROSS.COM or contact:

CHRISTOPHER T. HILL                TRACEY M. THOM
VICE PRESIDENT                     MANAGER
INVESTOR RELATIONS                 INVESTOR RELATIONS
Tel. (416) 365-7254                (416) 365-1362


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