Kinross Reels as Two More Africa Nations Seek Mining Payoffs
- Mauritania, Ghana deal potential 1-2 punch to profit outlook
- String of African nations seeking bigger share of resource pie
Photographer: Chris Ratcliffe/Bloomberg
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Kinross Gold Corp. is the latest miner to be hit by changing policies in Africa as governments seem increasingly willing to upend historic deals with foreign companies in their quest for more mining revenue.
Mauritania’s rejection of a key permit to expand a Kinross project, and a proposed mining code review in Ghana, dealt a double blow to the Toronto-based miner, sending its shares down the most intraday since 2014.