SMM7 11-Canadian gold miner Yamana gold on Wednesday announced second-quarter results of 257556 gold equivalent ounces (GEOs), of which gold production was 232863 ounces and silver production was 2.17 million ounces, both stronger than expected.
Its Jacobina project produced more than 30, 000 ounces for the 11th consecutive quarter and hit record highs for the second quarter in a row. So the company increased its annual production target from 145000 ounces to 152000 ounces.
But thanks to the sale of its Brazilian Chapada copper and gold mine to Canada's Lundin Mining, this month, the company cut its annual production target this year to 1.01 million from 1.06 million gold equivalent ounces (GEOs), including 899000 ounces of gold, despite encouraging production in the second quarter. "related news-Lundin's acquisition of Brazil's Chapada copper and gold mine is expected to produce 54500 tons of copper in 2019
Chapada copper and gold produced 29019 ounces of gold and 31.23 million pounds of copper in the second quarter of this year.
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