On April 5, 2022, Kinross Gold Corporation completed a definitive agreement to sell its Russian assets to the Highland Gold Mining group. The assets involved the Kupol mine and the Udinsk project. The agreement arranged for staggered payments, secured by share pledges, financial guarantees, and an escrow account, with all payments to be made in U.S. dollars. Highland Gold, a significant player in the Russian gold mining market, operates multiple mines, including those in the regions where the Kupol and Udinsk are situated. The deal is pending Russian government approval and the finalization of related agreements.