Chart: Which countries are falling behind in gold mine production
India tops the global ranking with demand nearly 50 times that of its mined supply.
Yamana Gold has released 2019 production results with 1.02 million of gold-equivalent oz. slightly exceeding the company’s guidance for 1.01 gold-equivalent oz. Three underground mines in South America: Jacobina, El Penon and Minera Florida appear as outperformers last year.
The company’s biggest production contribution is from its 50% stake in the Canadian Malarctic open pit in Quebec which produced 334,596 oz. last year, in line with expectations.
For Minera Florida in Chile, December, in particular, was a standout month with over 50% more ounces produced than its monthly average. The mine produced a total of 73,617 oz. in 2019; Yamana believes that the mine may be able to support higher production this year.
The company will provide costs with its full financial results and guidance release in mid-February; latest all-in sustaining costs guidance was for $920 to $960 for the year.
(This article first appeared in the Canadian Mining Journal)
