Coeur Adding Mill at Martha
Coeur d’Alene Mines is building a $13.9-
million flotation mill at its Martha silver
mine in Santa Cruz province, Argentina.
The mill will accommodate annual silver
production of as much as 3 million oz.
Completion is expected by the end of
2007.
Currently, Martha ore is processed at
Coeur’s Cerro Bayo facilities in Chile. In
2006, the Martha ore accounted for production
of 2.7 million oz of silver and
3,400 oz of gold.
Coeur’s continued success in expanding
the high-grade reserves and resources
at Martha, as well as the mine’s
significant exploration upside, provided
key reasons for its decision to create a
standalone operation at Martha. The
company reported a 50% increase in
proven and probable silver mineral
reserves at of the end of 2006 as compared
to 2005. Average silver grade in
these reserves also increased to more
than 61 oz/st. Additionally, in 2006, the
company acquired interests in four highly
prospective silver-gold exploration
properties in Santa Cruz and has budgeted
more than $4.6 million for exploration
in Santa Cruz in 2007.