Yamana Gold says this year it will embrace the “all-in sustaining cash cost” measure advocated by the World Gold Council.
Author: Dorothy Kosich
Yamana Gold Wednesday reported record total production of 1.2 million gold equivalent ounces (consisting of 1.02 million ounces of gold and 9 million ounces of silver) for 2012, a 9% increase from 2011 and within guidance.
Total 2012 copper production was reported at 150 million pounds.
Full year 2012 cash costs were approximately $240 per GEO.
Yamana reported record fourth quarter preliminary production of 322,800 GEO and 40 million pounds of copper.
The company expects this year’s production to be in the range of 1.44 million to 1.6 million GEO with a target of more than 1.48 GEO, an increase of at least 20% over last year.
Silver production is expected to remain consistent at between 8 million and 9 million ounces in both 2013 and 2014. Silver production is reported as a gold equivalent.
Estimated cash costs for 2013 are forecast to be below $365 per GEO. In 2013, anticipated cost increases will be driven by fewer copper by-product credits with high gold production, along with inflationary impacts in the nations in which Yamana operates.
Yamana’s all-in sustaining cash costs for 2013 are projected to be below $800 per GEO.