January 12, 2010 / 10:55 PM / 8 years ago

UPDATE 1-Yamana Gold Q4 cont ops production up sequentially

* Says Q4 total production 325,300 ounces of gold

* Says 2009 total production was 1.2 mln ounces

* Sees 2010 cont ops production at 1-1.1 mln ounces

* Sees 2010 capital expenditure at $515 mln

Jan 13 (Reuters) - Yamana Gold YRI.TO on Tuesday reported fourth-quarter production of 325,300 gold equivalent ounces and said its production from continuing operations rose 8 percent from the prior period.

The Canadian miner, which has assets in Chile, Argentina and Brazil, said it expects to increase its production from continuing operations by up to 12 percent for 2010 and 2011, backed by ramp up of operations at its key mines.

The company said it expects production from continuing operations in the range of one million to 1.1 million gold equivalent ounces in 2010.

The company said its El Penon mine in Chile produced about 394,400 gold equivalent ounces during the year and it sees a production of about 400,000 to 420,000 in 2010.

The company said capital expenditures for 2010 and 2011 are expected to be about $515 million and $455 million, respectively.

Shares of the company closed at C$12.71 on the Toronto Stock Exchange. (Reporting by Ashutosh Joshi in Bangalore)

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