Coeur d’Alene Mines reported in late
February 2009 that its Palmarejo silver-gold
project in Chihuahua, Mexico, was expected
to initiate production in March. All processing
facilities were nearing mechanical completion,
and the first doré pour was expected
to take place late in the month. The mine
is expected to produce 5.3 million oz of silver
and 72,000 oz of gold during 2009 at
an average cash operating cost of about negative
$0.50/oz of silver. Based on an initial
11-year mine plan, Palmarejo has capacity
to produce an average of 9 million oz/y of silver
and 120,000 oz/y of gold.
Mining at Palmarejo will take place
both from surface and from underground,
an approach that will reduce the strip ratio,
allow earlier access to higher grade ore and
allow efficient exploration from underground.
Production at Palmarejo during 2009 is
expected to contribute to a 66% increase
in Coeur’s company-wide silver production
to 20 million oz and an 85% increase in its
gold production to over 85,000 oz from
2008 levels.
As featured in Womp 2009 Vol 03 - www.womp-int.com
