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Kinross Gold Corporation nears sale of Russian business to local miner

Yahoo Finance Video

Kinross Gold Corporation is reportedly in negotiations to divest its Russian assets to a local miner amid the fallout of the war in Ukraine.

Video transcript

BRAD SMITH: Canadian gold miner Kinross Gold Corporation is reportedly in talks to sell its Arctic Russian mining business to Russian investment firm, Fortiana Holdings. Now, this is according to the Wall Street Journal. And the deal would mark the first sale of a Western company's Russian assets since the start of Russia's invasion in Ukraine. Gold futures posting gains today for the session month and quarter. You're seeing it currently sitting up by about 3/10 of a percent as of right now. Analysts expect gold to keep climbing as Russia intensifies its attacks on Ukraine.