XML 58 R20.htm IDEA: XBRL DOCUMENT
v3.8.0.1

PROVISIONS | 12 Months Ended
--- | ---
Dec. 31, 2017
PROVISIONS |
PROVISIONS | 13. PROVISIONS
|  | Reclamation and remediation obligations (i) |  | Other |  | Total |
Balance at January 1, 2017 |  | $ | 908.3 |  | $ | 46.1 |  | $ | 954.4 |
Additions |  | 9.7 |  | 6.2 |  | 15.9 |
Reductions |  | (19.4 | ) | (16.4 | ) | (35.8 | )
Reclamation spending |  | (42.6 | ) | — |  | (42.6 | )
Accretion |  | 31.3 |  | — |  | 31.3 |
Reclamation expense |  | 11.4 |  | — |  | 11.4 |
Dispositions (a) |  | (37.3 | ) | (0.3 | ) | (37.6 | )
Balance at December 31, 2017 |  | $ | 861.4 |  | $ | 35.6 |  | $ | 897.0 |
Current portion |  | 62.3 |  | 4.2 |  | 66.5 |
Non-current portion |  | 799.1 |  | 31.4 |  | 830.5 |
|  | $ | 861.4 |  | $ | 35.6 |  | $ | 897.0 |
| (a) |  | On November 3, 2017, the Company completed the sale of its interest in the DeLamar reclamation property. See Note 6 iii.
(i)Reclamation and remediation obligations The Company conducts its operations so as to protect the public health and the environment, and to comply with all applicable laws and regulations governing protection of the environment. Reclamation and remediation obligations arise throughout the life of each mine. The Company estimates future reclamation costs based on the level of current mining activity and estimates of costs required to fulfill the Company’s future obligations. The above table details the items that affect the reclamation and remediation obligations. Included in other operating expense for the year ended December 31, 2017 is a $11.4 million expense (year ended December 31, 2016 — $27.2 million expense) reflecting revised estimated fair values of costs that support the reclamation and remediation obligations for properties that have been closed. The majority of the expenditures are expected to occur between 2018 and 2041. The discount rates used in estimating the site restoration cost obligation were between 1.8% and 11.6% for the year ended December 31, 2017 (year ended December 31, 2016 — 0.9% and 13.9%), and the inflation rate used was between 1.8% and 5.0% for the year ended December 31, 2017 (year ended December 31, 2016 — 2.4% and 5.6%). Regulatory authorities in certain jurisdictions require that security be provided to cover the estimated reclamation and remediation obligations. As at December 31, 2017, letters of credit totaling $411.5 million (December 31, 2016 — $402.0 million) had been issued to various regulatory agencies to satisfy financial assurance requirements for this purpose. The letters of credit were issued against the Company’s Letter of Credit guarantee facility with EDC, the corporate revolving credit facility, and pursuant to arrangements with certain international banks. The Company is in compliance with all applicable requirements under these facilities. As at December 31, 2017, $254.7 million (December 31, 2016 — $216.7 million) of surety bonds were issued with respect to Kinross’ operations in the United States. The surety bonds were issued pursuant to arrangements with international insurance companies.

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfProvisionMatrixAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of provisions. [Refer: Provisions] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2017-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfProvisionsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration