Total number of Employees: 5090Total number of Operations: 6 producing mines and 1 Joint-VentureNet Revenues in 2018: $ 1.70 billionTotal Gold production in 2018: 940,619 ouncesTotal Silver production in 2018: 8.02 M ouncesTotal Copper production in 2018: 129 M ounces
Full Time Permanent Employees:Male: 4691 (92%)Female: 399 (8%) TOTAL: 5090
Total Part Time Employees: Male: 165 (91%)Female: 16 (9%)TOTAL: 181Total Female Employees: 415 (8%) Total Female Employees: 4856 (92%) By Region and Gender: Argentina: Male: 1018- 92% Female: 85- 8% TOTAL: 1103Brazil: Male: 1293- 89% Female: 148- 11% TOTAL: 1441Canada: Male: 75- 54% Female: 63- 46% TOTAL: 138Chile: Male: 1663- 96% Female: 62- 4% TOTAL: 1725% of Contract Workers: 45%Seasonal Variations: N/A
All Yamana operations maintain external certification of: - ISO 14001 - OHSAS 18001 - International Cyanide Management Code Standards
The company also uses the following guidelines in a non-required capacity: - The IFC Performance Standards on Social and Environmental Sustainability - The Voluntary Principles on Security and Human Rights
Yamana’s compensation philosophy supports our goal to be a recognized leader in precious metals mining by maintaining a strong entrepreneurial management team. Yamana motivates executives to focus on the long-term performance of the company by establishing a strong link between performance and compensation while building equity ownership. Yamana is guided by six compensation principles, approved by the board, which form the foundation for all decisions on executive pay and motivate the achievement of our corporate strategy. Compensation at Yamana is designed to: - Motivate and Retain-Pay for Performance-Pay varies based on results-Align with business strategy-Ensure internal equity-Informed judgement Total Compensation at Yamana is comprised of a number of components, each contributing to a total package, designed to promote our philosophy of pay for performance. Compensation programs include base salary, short-term incentive awards, long-term incentive awards (Restricted Share Units, Performance Share Units, and Options) as well as pension, perquisites and benefits. The compensation framework is reviewed on an annual basis to ensure it is aligned with Yamana’s business strategy, and competitive against industry peers, who are similar in structure, size, and type of business, to ensure our compensation levels are appropriate. Yamana benchmarks compensation at the market median for expected levels of performance. The majority of what we pay our executives is variable (at risk), and based on performance to promote the achievement of our annual and longer-term strategies, with caps in place to limit payout levels. The proportion of at risk compensation increases with each executive level, and a significant portion is equity-based to focus executives on creating long-term value and to align with the interests of our shareholders.Yamana uses a disciplined approach to assess performance based on specific measures and a pre-determined range of performance to determine company and individual performance. Performance targets are set at the beginning of the performance period and then assessed at the end of the performance period for achieved results. Achievement results directly impact the value of short term and long term awards. The board of directors also has an opportunity to provide informed judgment to adjust the awards upwards or downwards in response to overall company performance and market conditions.The compensation committee works with its independent compensation advisor to review the compensation framework to make sure it reflects good business practices, is in line with regulatory expectations, and is structured so executives are not encouraged to take excessive risks. Strategies to manage risk in executive compensation include the following:• Short-term incentives are based on corporate and individual performance. A balanced scorecard is used to assess corporate performance with pre-determined corporate performance measures and weightings, and threshold, target, stretch and maximize levels to cap the calculated scores and to discourage excessive risk-taking. • Long-term incentive awards are based on a suite of leading performance indicators to determine the size of grant. The award is allocated at least 50% to performance share units (PSUs) and the balance to restricted units and/or options so awards vest and pay out at different times.• The board can use informed judgment to adjust the compensation awards up or down based on its review and assessment, as it deems appropriate. • All decisions about executive pay must be approved by the board. The Executive Chairman recuses himself from any board discussions about the Executive Chairman’s pay. • Yamana directors, officers or employees are not allowed to hedge Yamana securities and does not re-price stock options or other equity incentive awards. • Yamana requires senior vice presidents and above, including the named executives, to own at least two times their annual salary in Yamana equity to reinforce our focus on the long term and align business decisions with shareholders’ interests. The Executive Chairman and the President and CEO must hold three times their annual base salary. • We continue to monitor regulatory developments, but do not currently have a policy. As a foreign private issuer, we will implement a claw back policy aligned with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, once final guidelines have been confirmed.Executives are also eligible to participate in the company’s defined contribution pension plan and are eligible for a perquisite allowance. In addition, executives are provided with local market competitive benefits including coverage of health, dental, vision, disability, life insurance and availability of an employee assistance and counseling program.Management reviews the competitiveness of the company’s benefit plans annually with an independent benefits advisor. There is considerable focus on ensuring benefit plans remain sustainable in an environment where benefit costs are on the rise. The executive benefits are consistent in approach with the non-executive benefits but do have an enhanced component to help executives mitigate health concerns, which in turn helps the company avoid unnecessary risks in the event of an executive impacted by health issues.Termination payments are aligned to the market and are limited by specific clauses in each employment agreement. The employment agreements of some senior executives include provisions for termination or other triggering event in a change of control situation at 2 times compensation for senior executives and 3 times compensation for the Executive Chairman and the President and CEO.
Yamana receives financial assistance in the form of tax stability agreements, tax holidays and various government incentive programs. The tax holiday entered into with the Superintendência do Desenvolvimento do Nordeste in Brazil resulted in tax savings of R$26,354,702 during 2018. The tax holiday was implemented to attract investments to the Northeastern area of Brazil. The Company has to meet certain employment and investment conditions in order to qualify for the incentive. In Brazil, there are also various tax incentives for exporters with the Federal and State governments that allows purchases to be made without incurring indirect taxes
Materials used (t)
El Penon: 1.6% Jacobina: 1.38% Minera Florida: <1%
All other sites ether did no report or did not use a significant amount of material.
Total energy use changed from: 1,335,265 MWh to 1,632,500 MWh between 2017 and 2018. This change is due in large part to our Cerro Moro operation coming online in Q2 of 2018, which was not included in our 2017 disclosure. In addition, due to the nature of mining, and the frequent changes in ownership of operations, we do not track our emissions in relation to a base year. Each site develops and maintains its own energy reduction program, as energy requirements vary across sites due to location, type of mine and climate. Some examples of site initiatives from 2018 include: Jacobina : completed a variety of projects across the operation with the goal of reduction such as Secondary fan automation that reduces power consumption and results in better control of fans. Change in water monitoring to help with reliability with data logger, reports on flows and pumping, process stabilization of the crushing area, maintenance of damaged water pipes, and maintenance of submersible pump.El Penon: Installation of 14 solar panels for light in the camp. Each panel saves 40 watts an hour. Gualcamayo: Replaced halogen lights with LED Lights. Minera Florida: Conducted an energy audit of its plant area, which provided various projects to reduce energy consumption.
TTotal GHG Emissions (Scope 1 and Scope 2) changed from 334,969 to 397,450 tCO2e between 2017 and 2018. This change is due in large part to our Cerro Moro operation coming online in Q2 of 2018, which was not included in our 2017 disclosure. In addition, due to the nature of mining and the frequent changes in ownership of operations we do not track our emissions in relation to a base year. Each site develops and maintains its own energy reduction program, as energy requirements vary across sites due to location, type of mine and climate. Some examples of site initiatives from 2018 include: Jacobina underwent a variety of projects across the operation with the goal of reduction. Examples include: Secondary fan automation which reduces power consumption and results in better control of fans. Change in water monitoring to help with reliability with data logger, reports on flows and pumping, process stabilization of the crushing area, maintenance of damaged water pipes, and maintenance of submersible pump.El Penon: Installation of 14 solar panels for light in the camp. Each panel saves 40 watts an hour. Gualcamayo: replacing halogen lights with LED lights. Minera Florida: Conducted an energy audit of its plant area which provided various projects to reduce energy consumption.
Disclaimer
You are now leaving the Yamana Gold Inc. website to go to an independent third party website. Yamana has no control over information at third party sites hyperlinked to this one. These links are being provided for the convenience of the users of this website and Yamana does not endorse and is not responsible or liable for the content, nature or reliability of any linked website or any link contained in a linked website. Yamana takes no responsibility for monitoring, updating, supplementing or correcting any information on any linked website and makes no representation or warranties regarding such information.
Yamana discloses certain non-GAAP measures including Cash costs per ounce of gold, Cash costs per ounce of silver, Co-product cash costs per ounce of gold, Co-product cash costs per ounce of silver, Co-product cash costs per pound of copper, All-in sustaining costs per ounce of gold, All-in sustaining costs per ounce of silver, All-in sustaining co-product costs per ounce of gold, and All-in sustaining co-product costs per ounce of silver to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS. The term IFRS and generally accepted accounting principles (“GAAP”) are used interchangeably. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
Agree Disagree