CHICAGO — Coeur Mining Inc. announced Oct. 5 third quarter production of 9.5 million silver equivalent 1 ounces, comprised of 4.0 million silver ounces and 93,293 gold ounces. Third quarter silver equivalent 1 production increased 7 percent quarter-over-quarter and 10 percent year-over-year. Higher quarter-over-quarter silver equivalent 1 production was driven by a 13 percent increase in gold production while higher year-over-year silver equivalent 1 production was due to a 10 percent increase in gold production and an 11 percent increase in silver production. Metal sales of 3.8 million ounces of silver and 89,972 ounces of gold, or 9.2 million silver equivalent 1 ounces, were in-line with third quarter production.
Coeur Mining, Inc. is a precious metals producer with five precious metals mines in the Americas employing approximately 2,000 people. Coeur produces from its wholly-owned operations: the Rochester silver-gold mine in Nevada, the Palmarejo silver-gold complex in Mexico, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota and the San Bartolomé silver mine in Bolivia. In addition, the company owns the La Preciosa project in Mexico, a silver-gold exploration stage project. Coeur conducts exploration activities in North and South America.
Here are the third quarter highlights from Rochester:
Silver equivalent production of 1.7 million ounces was relatively unchanged quarter-over-quarter
Following three years of permitting and 10months of construction, the Stage IV leach pad expansion was successfully commissioned on schedule early in the third quarter
Tons placed decreased 5 percent quarter-over-quarter, primarily due to crusher downtime related to the integration of the crusher into the expanded Stage IV system, planned annual maintenance and a brief power disruption due to a nearby wildfire
Leaching of the expanded Stage IV pad began in the quarter and is expected to drive strong production through the end of the year.Fourth quarter gold production is also expected to benefit from the placement of higher gold grade ore on the expanded Stage IV pad during the third quarter
The company is maintaining Rochester’s full-year production guidance of 4.2—4.7 million silver ounces and 47,000—52,000 gold ounces