Jan 11 (Reuters) - Yamana Gold said it expects production to rise 13 percent in 2012, mainly due to the ramp-up of production at its newest mine in Mexico.
Yamana, which owns mines and projects spread across Chile, Argentina, Brazil and Mexico, expects production in 2012 of 1.2 million to 1.3 million gold equivalent ounces.
The miner expects 2013 production to increase 43 percent, compared with 2011 levels, to about 1.5 million to 1.7 million gold equivalent ounces.
The Mercedes mine in Sonora State, Mexico, has produced about 8,400 gold equivalent ounces since it started producing in mid-November, Yamana said in a statement.
Yamana’s 2011 production was 1.1 million gold equivalent ounces, up 5 percent, boosted by strong production at its flagship El Penon mine in Chile. El Penon produced 476,000 equivalent gold ounces, up 11 percent.
Yamana shares closed at C$15.58 on Wednesday on the Toronto Stock Exchange. (Reporting by Eileen Anupa Soreng in Bangalore; Editing by Bob Burgdorfer )