- As mentioned previously, Kinross is now in the process of assessing goodwill impairment. As a result, Kinross expects to record a goodwill impairment accounting charge in the range of $900 million to $1.2 billion at year end, related primarily to goodwill recorded in the 2007 Bema acquisition.

where did that come from? it says it was mentioned previously, so i have to start paying better attention. everything looks real good - production on schedule, costs will decline, everything is in accord with guidance...oh and by the way, we're going to write off $1.2 billion.

maybe an accountant can explain the concept, but it looks like kinross now has to expense as much as $1.2 billion related to the bema acquisition. this won't affect cash flow or expenditures for capex, but it will put a dent in the company's profitablility this year.

also, since kinross expects to spend $45 million on the development of fruta del norte this year, i think it's safe to say they know something about the mining law (and have already known since last august, and probably a lot longer than that.)