Forbes reported that J. Paul Rollinson, the new CEO of Kinross Gold Corp. (TSX:K,NYSE:KGC), said that the company plans to be “much more aggressive” about decreasing operating and capital costs.
As quoted in the market news:
The new CEO said the industry is facing serious challenges with cost escalation on both new projects and operations, which has meant erosion in investor confidence. Kinross has been one of the companies impacted.
Kinross is initiating a company-wide initiative focused on reducing operating, capital and other costs, he said.
“We can leave no stone unturned in an effort to cut waste and build free cash flow across the company,” he said. “We are just getting under way with this initiative, and I expect to have further news to report to you in the weeks and months ahead.”