Coeur Announces Appointment of Humberto Rada as President of Manquiri and of Coeur South Americaadmin
Coeur d’Alene Mines Corporation announced the appointment of Humberto Rada as the new President of Coeur’s Bolivian subsidiary, Empresa Minera Manquiri, S.A., and of Coeur South America. Mr. Rada will lead all the Company’s activities in South America, including its existing activities in Bolivia, Chile and Argentina. Coeur recently began operations at its new San Bartolomé silver mine, located in Potosi, Bolivia, which is expected to produce 3.2 million ounces of silver this year and approximately 9.0 million ounces in 2009.
Mr. Rada has over 23 years of experience in South American mining management, most recently as General Manager of Empresa Minera Inti Raymi S.A., a Bolivian subsidiary of Newmont Mining Corporation. He is currently President of Bolivia’s National Mining Association.
“We are very pleased that Humberto, with his extensive South American mining management, operations, financial, and government experience, has joined the Company as its new President of our Bolivian subsidiary, Empresa Minera Manquiri, and Coeur South America,” said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of Coeur. “We look forward to his contributions and leadership as we further our goal of creating a leading Bolivian and South American mining company.”
His numerous awards include Executive of the Year from New Economy Magazine; Remarkable Bolivian from Enfoques Magazine; as well as more than ten local and international awards in the areas of corporate social responsibility, environmental and best business practices, and safety and health. Mr. Rada received his bachelor degrees in Business Administration, Economic Sciences and Public Accounting from the University of Chile.
Coeur d’Alene Mines Corporation is one of the world’s leading silver companies and also a significant gold producer, with anticipated 2008 silver production of approximately 13 million ounces of silver. The Company produced 11.5 million ounces of silver in 2007. Coeur, which has no silver or gold production hedged, is now producing silver at what is expected to be the world’s largest pure silver mine – San Bartolomé in Bolivia – and is currently constructing another world-leading silver mine – Palmarejo in Mexico. The Company also operates underground mines in southern Chile and Argentina and one surface mine in Nevada; and owns non-operating interests in two low-cost mines in Australia. The Company also owns a major gold project – Kensington in Alaska – and conducts exploration activities in Argentina, Bolivia, Chile, Mexico and Tanzania. Coeur common shares are traded on the New York Stock Exchange under the symbol CDE, the Toronto Stock Exchange under the symbol CDM, and its CHESS Depositary Interests are traded on the Australian Securities Exchange under symbol CXC.