7th Dec 2021 12:46
(Alliance News) - Yamana Gold Inc has been granted an extended permit at its Jacobina mine to increase throughput to 10,000 tonnes per day, the miner announced Tuesday.
Toronto, Canada-based Yamana said the permit's extension would allow throughput to reach 8,500 tonnes per day by the second quarter of 2022 at the Bahia state mine in northeastern Brazil.
At the current processing rate, production at the mine will increase through the second half of 2022 with a production level of 230,000 ounces per year beginning in 2023, Yamana stated.
"For the past six months, Jacobina has continued with incremental improvements to increase mining and processing capacity in anticipation of receiving the expansion permit. As such, the company intends to progressively increase throughput over the next six to seven months," the miner said.
The company also reported a strong operating performance from its El Penon and Cerro Moro mines, both of which were planned to have higher production in the last several months of the year as they sequenced into higher grade zones.
The news supports Yamana's previous guidance that fourth-quarter production will exceed 270,000 gold equivalent ounces, and annual production will exceed overall 2021 guidance of 1 million gold equivalent ounces.
Shares in Yamana were up 0.7% at 294.50 pence on Tuesday in London.
By Will Paige; [email protected]
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