Global Mining Symposium: Peter Marrone on Yamana’s ‘generational’ mines – by Trish Saywell (Northern Miner – September 29, 2021)

Global mining news

Peter Marrone, executive chairman and founder of Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY), shared his views on the company’s ‘generational’ strategy and assets — mines with several decades of mine life — in a keynote interview at The Northern Miner’s Global Mining Symposium on September 24.

Marrone, who set up the company in 2003, noted that Yamana, which has five producing mines spread across Argentina, Chile, Brazil and Canada, has proportionally more generational mines than many of its peers and the number of generational mines its portfolio is disproportionate to its size.

“Generational means that we’re there for an extended period time,” he said. “Nothing is ever perfect running a mine. There are always hiccups. And so the longer the life of the asset, the more we can deliver returns and the more we can absorb ‘briar patches.’”

“It gives us the luxury—it affords us the comfort, of being able to say that we have a de-risked company because we don’t have to worry about buying something, we don’t have to worry about developing something new. We don’t have to worry about something coming to the end of its mine life.

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