Operating results Operating results
Mine-by-mine summaries for fourth-quarter and year-end 2012 operating results may be found on pages 17 and
21 of this news release. Highlights include the following:
North America:
Regional performance remained strong in the fourth quarter, as North America exceeded
regional production guidance for full-year 2012, and was in line with full-year production cost of sales guidance.
Fort Knox
production improved over the previous quarter, as the mine entered into a phase of higher grades,
while mill recoveries continued to be strong for both the quarter and the full year.
Kettle River-Buckhorn and
Round Mountain’s
production were lower than the previous quarter as a result of lower grades.
Russia
:
Full-year production for 2012 exceeded regional guidance, while production cost of sales was at the low
end of regional guidance, as Kupol performed strongly for the year. Despite strong mill throughput during the
quarter, production from
Kupol was slightly lower in Q4 2012 compared with the previous quarter as a result of
lower gold and silver grades. Mill recoveries for both gold and silver remained strong.
West Africa:
Full-year production and production cost of sales for the region were within guidance, as Chirano
achieved record quarterly production as a result of mining higher grade areas in the Akwaaba underground.
Tasiast’s
Q4 2012 production declined compared with the previous quarter and on a year-over-year basis as a
result of continued variability in the gold grades encountered in the banded iron formation-type ore currently being
mined in the Piment pits.
South America:
Full-year regional production was slightly below 2012 guidance, while production cost of sales
remained within the guidance range. Regional production was stronger compared with the previous quarter, as
Paracatu
production increased due to the fourth ball mill being in operation for the full quarter, higher grades
processed at Plant 2 and improved mill performance.
Maricunga’s production increased compared with the
previous quarter, as the heap leach returned to more normal operations after encountering suspended solids in
Q3 2012.
La Coipa’s production increased in the quarter as a result of better grades. As previously disclosed (in
the Company’s 2012 Annual Information Form), the Company expects to suspend mining of the existing orebody
at La Coipa in the second half of the year. The Company is continuing to assess the remaining mineral reserves
and resources and exploration potential at La Coipa, including the future potential of La Coipa Phase 7
(Pompeya).