Coeurs Palmarejo Project Commences Crushing Activitiesadmin
December 9, 2008 Filed Under: Precious Metal
Coeur d’Alene Mines Corporation announce that crushing activities have begun and construction activities are proceeding on schedule and on budget at its major Palmarejo silver and gold project in Mexico.
The mine has successfully operated the crusher, an important milestone in completion of the construction of the processing facilities at Palmarejo. In addition, commencement of silver and gold production remains on target to begin in late March following mechanical completion of all plant facilities.
Palmarejo is expected to produce approximately 5.3 million ounces of silver and 72,000 ounces of gold next year, contributing to an expected 63% increase in silver production and 100% increase in gold production in 2009 over 2008 levels.
Coeur d’Alene Mines Corporation is one of the world’s leading silver companies and also a significant gold producer. Coeur, which has no silver production hedged, is now producing silver at what is considered 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, and Mexico. 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.