PRECIOUS METALS

Yamana more than replaces depletion in resources update

Company finding reserves 'faster than resources are depleting'

Petra Witowski
Yamana's El Penon mine in Chile

Yamana's El Penon mine in Chile

The company reported 13.7 million ounces of gold mineral reserves and 111Moz of silver mineral reserves as of December 31, 2021, in line with the previous year.

However, Yamana added that it had had great success in replacing depletion of mineral reserves in the past several years, which resulted in a very significant increase of minerals reserves and also extended mine lives.

Yamana said it had continued to replace gold mineral reserves at all of its wholly-owned operations by 130% of depletion. This included a 5% year-on-year increase above depletion at its Jacobina mine, as well as successful replacement at Cerro Moro and a fourth consecutive year of adding mineral reserves in excess of depletion at El Penon.

Meanwhile, ongoing exploration drilling at its Odyssey site saw 2.35Moz of indicated gold mineral resources and 13.15Moz of inferred gold mineral resources at year-end.

On February 8, Yamana Gold traded on the Toronto Stock Exchange at C$5.33/share, up 2.3% on the day. Its shares hovered above the $5 mark during the past month.

Yamana Gold is a Canadian-based precious metals producer with gold and silver production located across the Americas. It will release its production guidance and longer-term outlook, alongside fourth-quarter 2021 and full-year operational and financial results on February 17.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.