AngloGold Ashanti, the owner of Crixas gold mine located in the State of Goias, holds the other 50% stake in the property.

As of 31 December 2011, Kinross’ share of Crixas’ proven and probable gold reserves was about 375,000 ounces.

The company said its share of forecast production for 2012 was about 70,000 gold equivalent ounces. 

It also said that the deal was expected to be completed during the second quarter of 2012.

Kinross is a Canadian-based gold mining company with mines and projects in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania, Russia and the US, employing approximately 8,000 people worldwide.