Kinross Gold overstated the value of Tasiast mine in its financial statements and made other false statements. The Ontario action alleged that Kinross had an unreported goodwill impairment in May 2011 which should have been reported as a write-down of its goodwill; Kinross had failed to disclose that drilling at the Tasiast mine had found high amounts of low-grade ore; Kinross had misrepresented that the expansion project at the Tasiast mine remained on schedule. In 2015, the parties reached settlement agreements which included payments by Kinross totalling approximately $US 40 million. Chirano The Red Back purchase gave Kinross a 90% stake in the Chirano Gold Mine, while the remainder is held by the Government of Ghana. The mine produced nearly a quarter million ounces of gold in 2011. The mine is made up of three open pits and two underground operations. Chicano incurred an operating loss of $58 million in 2016. Dvoinoye and Kupol The Dvoinoye and Kupol gold mines are located in Russia approximately apart. Dvoinoye/Kupol is Kinross' most profitable operating segment. During 2016, its operating earnings were $345 million. The Dvoinoye underground gold mine was acquired in 2010 through Northern Gold LLC and Ragionruda LLC, and opened in 2013. Ore from the mine is processed at Kupol. Gold production at both mined equated a total of approximately 734,000 gold equivalent ounces for 2016. The grade of reserves at Dvoinoye, 11.2 g/tonne, is significantly higher than Kinross' other mines. In contrast, the grade at Paracatu is only 0.4 g/tonne and the grade at Tasiast is 1.9 g/tonne. The September Northeast project near Dvoinoye is expected to begin mining in early 2017. The Kupol Gold Mine is a combination open-pit and underground gold mine, as well as a milling processing operation in Chukotka Autonomous Okrug, in an area originally mined in the 1930s by prisoners of the Gulag. Bema Gold Corporation financed the $425-million project through various international banks, agencies, and equipment companies, plus the Chukotka government. Kinross acquired the property (at the time 75% of the mine) through the acquisition of Bema Gold, and a subsidiary (Chukotka Mining & Geological Company) purchased the remaining 25% from the government (via the State Unitary Enterprise of the Chukotka Autonomous Okrug) in 2011. At Kupol, gold and silver occur as native gold, gold-silver alloy electrum, acanthite as well as silver-rich sulfosalts. Dvoinoye, on the other hand is a low sulfidation epithermal gold-silver vein deposit, and notably counts with appreciable free gold in parts of the deposit. Ore minerals and sulfides in the vein include freibergite, pyrite, chalcopyrite, galena, and sphalerite. Kinross expects to commence mining at Moroshka in 2018 and will process its ore in the Kupol mill. Moroshka is located approximately four kilometers east of Kupol and is within the Kupol license area. The mines are expected to close in 2021. Non-operating and divested mines Julietta Mine Operating since 2001, Julietta is a gold and silver mine located in the Omsukchansky District of Magadan Oblast, near Russia's far eastern border, which is reported to produce approximately 75,000 ounces of gold equivalent per year. Kettle River-Buckhorn The Buckhorn mine and Kettle River mill is located in the US State of Washington and was acquired by Kinross in 2006 as part of its acquisition of Crown Resources Corporation. This subsidiary operates the Buckhorn mine, while Echo Bay Minerals operates the Kettle River mill. The mine produces about 97,000 gold equivalent ounces. The Kettle River-Buckhorn mine is expected to close in the second quarter of 2017. In August 2017 MarketWired reported that Kettle River-Buckhorn mine and mill houtperformed during the previous quarter, with an