New money

Red Back Mining is pleased to announce that Kinross Gold has invested $600 million for the purchase of a 9.4% stake in the company. Red Back says the investment should help finance the expansion of its carbon-in-leach (CIL) plant and develop a heap-leach operation at its Tasisast gold project in Mauritania.

  The Kinross’ investment represents 24 million shares at $25 per share.