Yamana Gold expects steady production growth through 2030
(Kitco News) - Yamana Gold (TSX:YRI; NYSE:AUY; LSE:AUY) today provided 2021, 2022, and 2023 production guidance, and its 10-year production overview.
In the period between 2021 and 2023, the company plans to keep its gold equivalent ounces ("GEO") production at approximately 1 million ounces at the mid-point of the guidance.
Yamana stated that its production profile for 2021 to 2023 shows “sequential growth” in gold production. Several growth opportunities are available, and in the near and medium-term the company remains focused on optimizing the existing portfolio of five operating mines while also advancing studies for various expansion projects and longer-term development assets.
The company expects to continue its established trend of delivering stronger production in the second half of the year, with approximately 53% of production slated for the second half, along with quarterly sequential increases in production.
Yamana said that it has a strong 10-year base case outlook with a sustainable production platform of 1 million GEO per year through 2030. Production will be underpinned by continued operational success at the company’s existing operations, which have consistently replaced mineral reserves above depletion.
The company’s upside case is for annual production to trend above 1 million GEO by mid-decade, reaching 1.2 million GEO by approximately 2028. The upside case is underpinned primarily by the newly acquired Wasamac project—a future underground mine located in Quebec’s Abitibi region just 100 kilometres away from Canadian Malartic.
Yamana Gold is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina.