Located in northwest Argentina, Yamana maintains a 12.5 percent equity interest in the Alumbrera mine (Xstrata Plc. 50 percent, Goldcorp 37.5 percent). The operation commenced open pit mining in 1997 and is one of the world’s largest copper and gold mining operations, and is amongst the world’s lowest cash cost copper producers. Annual dividends from the Alumbrera property contribute to cash flow helping to fund further gold production growth.