August 6, 2008 / 9:55 PM / 9 years ago

Yamana Gold says could sell higher cost assets

(In U.S. dollars, unless noted)

TORONTO, Aug 6 (Reuters) - Yamana Gold (YRI.TO) may decided to sell off some of its higher cost assets, the gold miner’s chief executive said on Wednesday.

“We have an average cash cost in this company that is below industry average, and when we look at our core assets, well below industry average. Anything that does not perform according to that average, we would look at as non-core,” CEO Peter Marrone told Reuters.

The company reported an average cash cost of negative $140 per ounce, due to the use of silver and copper production as an offset.

Yamana’s most expensive operations during the quarter were Sao Francisco in Brazil at $667 an ounce and San Andres in Honduras at $642 an ounce. (Reporting by Cameron French; editing by Rob Wilson)

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