UPDATE 1-Yamana Gold profit falls on charges, prices

* Second-quarter profit down 77 percent

* Results hit by derivatives, forex losses (In U.S. dollars, unless noted)

TORONTO, Aug 4 (Reuters) - Yamana Gold (YRI.TO) said on Tuesday its second-quarter profit fell 77 percent as its results were hit by lower copper and silver prices, a $34.1 million unrealized loss on derivatives and a foreign exchange loss of $28.5 million.

The Canadian gold producer earned $9.6 million, or 1 cent a share, in the quarter ended June 30. That compared with a profit of $42.1 million, or 6 cents a share, in the year-before period.

Stripping out foreign exchange and derivatives losses, adjusted profit was 13 cents a share, Yamana said.

Analysts polled by Reuters had expected, on average, a profit of 9 cents a share before exceptional items.

Yamana, which has operations in Mexico, and Central and South America, produced 289,574 gold equivalent ounces during the quarter, a figure that includes mined silver converted to equivalent gold ounces. This was up 12.5 percent from the year before.

During the latest quarter, Yamana agreed to sell three of its non-core mines in Brazil and Honduras to exploration company Aura Minerals (ORA.TO) for about $200 million.

The company expects to produce 1.2 million gold equivalent ounces this year.

($1=$1.07 Canadian) (Reporting by Cameron French; editing by Rob Wilson)