TORONTO, July 31, 2018 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) is pleased to announce it is celebrating its 15th anniversary today. On this day in 2003, the Company was taken public with an initial portfolio that included the Chapada project in Brazil, which it subsequently developed and brought into production in 2007.
Yamana is proud that Chapada continues to return value to this day and the mine still has a life of 20 years. The success at Chapada is representative of the Company’s approach and of meeting its commitments to all stakeholders.
Over the years, Yamana has grown through phases of strategic acquisitions to enhance and diversify its portfolio as well as pursuing organic opportunities within its portfolio. Throughout, the Company has focused on the sustainability of its business and has sought to continuously improve its performance across all health and safety, environment and community metrics.
Peter Marrone, Chairman and Chief Executive Officer, commented as follows: “In 2003, we had a vision to create a significant and dominant intermediate gold company that focused on high quality assets in more prominent and higher quality mining jurisdictions in North and South America mostly to deliver better value with lower risk.
Over the past 15-year period, we have achieved these objectives plus much more, and we are proud that Yamana in 2018 is a realization of that initial vision. Today, we are that established and dominant intermediate with quality assets and management. Particular attention has been paid in the last several years to the need for high quality management and board representation.
Further, we have paid attention to the importance of sustainability, focused on health, safety, environment and community relations, in our enterprises. Creating a culture of care for health, safety and environment goes hand in glove with our obligations to produce effectively, generate cash flows and be profitable.
Thank you to all Yamana employees past and present, our contractors and suppliers, our local communities and our many other stakeholders, and all the others who have supported us getting to this stage.”
Operating from seven mines in Brazil, Argentina, Chile and Canada, the Company has a production platform of gold, silver and copper. The Company expects to produce over 1.1 million ounces of gold equivalent (treating silver as a gold equivalent at a ratio of 72:1) and 120 million pounds of copper this year at one of the lowest costs in the industry, which serves as further corroboration that it has established itself as a low-cost, significant intermediate-sized company, from seven mines in four high quality mining jurisdictions in the Americas.
Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Canada, Brazil, Chile and Argentina.
Yamana plans to continue to build on this base through existing operating mine expansions and optimization initiatives, development of new mines, the advancement of its exploration properties and, at times, by targeting other gold consolidation opportunities with a primary focus in the Americas.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations and Corporate Communications
Email: [email protected]