Kinross and Placer Dome Complete Porcupine Joint Venture

Vancouver-based Placer Dome Inc., through its wholly owned subsidiary, Placer Dome (CLA) Limited, and Toronto-based Kinross Gold Corporation combined their respective gold mining, milling and exploration operations in the Porcupine Gold Camp in Timmins, Ontario in their new Porcupine joint venture. The deal closed on July 1, 2002. The joint venture is owned as to 51 per cent by Placer and as to 49 per cent by Kinross, and is managed by Placer. The camp is the largest historical gold producing district in North America. The value of the deal is undisclosed.

Placer was represented by in-house counsel Geoff Gold and Jason Stevens, and by Blake, Cassels & Graydon LLP in Toronto and Vancouver. The Blakes team included Peter O’Callaghan (corporate and mining), Gail Lilley, Kim Harle and Andrew Pollock (corporate), Silvana D’Alimonte (real estate) and Ron Richler (tax).

Kinross was represented by Cameron Mingay (corporate and mining), Brian Dominique (corporate, real estate and mining) and Bruce McNeely and Maria Rossi (corporate) of Cassels Brock & Blackwell LLP.