Canada’s Alamos Gold has announced plans to launch production at its La Yaqui Grande mine in Mexico in the sec-ond half of 2022.
“With stronger production in the fourth quarter, we met our revised full year 2021 guidance. This was driven by strong performances through the year from both Young-Davidson and Island Gold, with the former achieving record mining rates and free cash flow,” said John A. McCluskey, the company’s president and CEO, as quoted in a statement.
McCluskey said that his company was working through a transitional phase, facing higher costs until La Yaqui Grande comes online.
“This temporary increase in costs at Mulatos and industry-wide infla-tion are the key drivers of higher consolidated costs in 2022, though we expect a significant improvement in costs in 2023 and beyond,” according to the CEO.