In the final stages of construction of the $126-million Cerro Moro construction project, in Santa Cruz province of Argentina, Canadian gold major Yamana Gold has locked up about 60% of gold output in hedge contracts.
The Toronto-based miner said on Monday that it needed to secure certainty of cash flows during the periods of completion of construction, commissioning and start-up of Cerro Moro, prompting the company to enter option contracts relating to some of its gold and copper output.
