North American Palladium Production, Expenses

North American Palladium (TSX:PDL,NYSE:PAL) announced production for palladium and gold production and its budget for 2012.

As quoted in the press release:

Summary

• Payable palladium production from Lac des Iles (“LDI”) mine to increase to 150,000 to 160,000 ounces in 2012 at cash costs per ounce in the range of US$375 to US$400. In 2011 payable palladium production was 146,000 ounces at cash costs expected to be in line with guidance of US$450 per ounce;

NAP’s President and CEO, William J. Biggar said:

We expect modest growth in palladium production in 2012, a year in which our top priority is the completion of Phase I of the LDI mine expansion with the commissioning of the new shaft by year-end. This will enable us, starting in 2013, to reduce our cash costs per ounce while allowing us to increase production.

Click here to read the North American Palladium (TSX:PDL) press release.