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Kinross acquired its 49% interest in the Cerro Casale gold-copper deposit in northern Chile on February 28, 2007, through its acquisition of Bema Gold. Barrick Gold held the remaining 51% interest. As a result of a new shareholders agreement entered into with Barrick and an associated reorganization of the corporate ownership in September 2009, each of Kinross and Barrick now have a 50% interest.
Discovered in 1996, Cerro Casale is located 145 kilometres southeast of Copiapó, and is directly south of Kinross' Maricunga mine.
The Cerro Casale deposit is a large gold and copper orebody with reserves (100%) of approximately 21 million ounces of gold and 5 billion pounds of copper. It is reputedly one of the largest undeveloped gold/copper deposits in the world.
21 mil oz x $1192 = $25,032,000,000 ($25 Billion) in the ground