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Friday, 7th January 2005 (4345 views)

Yamana Gold has predicted it will more than double production to around 400K oz by 2007 <br/><br/>The mining company said it plans to more than double its production within the next two years as its cash costs decrease. <br/><br/>Yamana, a gold explorer and producer active in South America, said it expects to produce between 145,000 and 160,000 ounces of gold in 2005 at a cash cost of between $215 and $230 per ounce. <br/><br/>By 2007, the company expects production at its Brazilian mines to increase to between 375,000 and 400,000 ounces, costing between $170 US and $185 per ounce. <br/><br/>The company has also allocated about $14 million for exploration this year in Brazil. <br/><br/>Aside from Brazil, Yamana also holds gold exploration properties in Argentina and plans to target other gold consolidation opportunities elsewhere in Latin America. <br/><br/>Shares in Yamana (TSX:YRI) were unchanged Thursday on the Toronto stock market at $3.40.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7509373"/>

 

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