high contrast

Fast Facts


Primary Metal

Type of Mining

Proven and Probable Mineral Reserves 
2,493,000 ounces of gold(1)

2019 Production
159,499 ounces of gold

2020 Production Guidance
168,000 ounces of gold

(1) 34,200,00 tonnes with an average grade of 2.27 grams per tonne of gold.


The Jacobina mining complex is located in Bahia state in northeastern Brazil. It consists of five underground gold mines: Canavieiras, João Belo, Morro do Cuscuz, Morro do Vento, and Serra do Córrego. Yamana acquired its 100% interest in Jacobina when it completed the purchase of Desert Sun Mining in 2006. The Jacobina mine is a paleo placer deposit with grains of gold hosted in conglomerate beds (reefs) in the Serra de Corrego Formation on the São Francisco Craton. Before the opening of the Atlantic Ocean millions of years ago, the São Francisco Craton was adjacent to similar geological environments in West and South Africa that host the Witwatersrand and Tarkwa gold deposits. Together, these three paleo placer deposits host 40% of the world’s gold resource and reserve inventory. Gold at Jacobina is hosted in the Serra do Corrego Formation deposit within a Proterozoic continental rift basin. The rift basin is preserved in a 155-kilometre long north-south belt. Yamana controls the entire belt with 71,000 hectares of exploration concessions and 5,000 hectares of exploration permits.

In 2014, the Company launched a major initiative to unlock Jacobina’s full potential. This included aggressive investment in delineation drilling and underground development along with improved geological modelling and mine planning. Production at Jacobina has more than doubled from 75,000 ounces of gold in 2014 to more than 159,000 ounces in 2019, with record production in each of the past three years.

Organic Growth

To further increase production, Jacobina is implementing a two-phased expansion that will significantly raise annual production. Phase 1, which was recently completed, involved a modest plant expansion to 6,500 tonnes per day (“tpd”) that will increase annual production to 180,000 ounces by 2021. The Company exceeded expectations, with average plant throughput now above the 6,500 tpd threshold, and it is assessing whether the results of Phase 1 can be further optimized with incremental improvements to plant throughput without affecting gold recoveries of 96% to 97%.

Phase 2 envisions raising throughput to 8,500 tpd, which would increase annual production to approximately 230,000 ounces, reduce costs, and generate significantly more cash flow and attractive returns. The Company recently released a positive pre-feasibility study and, pending full feasibility results (which are expected in 2021) and capital allocation decisions, investment for Phase 2 would occur mostly in 2021 and 2022, with the objective of reaching the higher throughput level at the beginning of 2023. For more information on the Phase 2 expansion, please see the press release published May 6, 2020, and the full technical report.

Exploration Upside

Exploration within the 11-kilometre long mine area is aimed at increasing the operation’s mineral reserve inventory and grade. The Company is primarily targeting extensions of near infrastructure targets in the higher-grade Canavieiras and Morro do Vento sectors but also continues to advance new areas of inferred mineral resources at João Belo Sul and Morro do Vento Leste for long-term mineral resource growth beyond current life-of-mine plans. The operation has a strong track record of mineral reserve replacement with the replacement rate exceeding the depletion rate by more than three times. Please see the press release published September 8, 2020, for the Company’s most recent exploration update for Jacobina.

Please refer to Mineral Reserves & Resources for complete information relating to mineral reserves and mineral resources indicating tonnage and grade for the various mines and projects.

The Jacobina Mine has been certified as fully compliant with the International Cyanide Management Code by The International Cyanide Management Institute (ICMI). For details please see ICMI’s press release.


You are now leaving the Yamana Gold Inc. website to go to an independent third party website. Yamana has no control over information at third party sites hyperlinked to this one. These links are being provided for the convenience of the users of this website and Yamana does not endorse and is not responsible or liable for the content, nature or reliability of any linked website or any link contained in a linked website. Yamana takes no responsibility for monitoring, updating, supplementing or correcting any information on any linked website and makes no representation or warranties regarding such information.


Yamana discloses certain non-GAAP measures including Cash costs per ounce of gold, Cash costs per ounce of silver, Co-product cash costs per ounce of gold, Co-product cash costs per ounce of silver, Co-product cash costs per pound of copper, All-in sustaining costs per ounce of gold, All-in sustaining costs per ounce of silver, All-in sustaining co-product costs per ounce of gold, and All-in sustaining co-product costs per ounce of silver to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS. The term IFRS and generally accepted accounting principles (“GAAP”) are used interchangeably. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Agree Disagree