“With the ramp-up to steady-state throughput now achieved, Rochester is expected to lead the company to a free cash flow inflection point during the second half of the year, which will enable the company to reduce debt levels,” said Mitch Krebs, chairman, president and CEO, Coeur Mining. “The team has worked tirelessly to complete the ramp-up and will now turn its focus to a range of optimization efforts while establishing an operating rhythm at the higher mining, crushing, and placement rates now being achieved.”

Approximately 4.3 million tons of ore were placed on the new Stage 6 leach pad during Q2 2024, bringing the total tons placed to 15.5 million tons. Crushing and placement rates were lighter than initially planned during the second quarter while mining rates exceeded plan. Down days taken during the second quarter have Rochester well positioned to deliver crushing and placement rates of 7 – 8 million tons per quarter during the second half of the year and into 2025.

At full capacity, throughput levels are expected to be approximately 2.5 times higher than historical levels, or approximately 32 million tpy, making Rochester one of the world’s largest open pit heap leach operations and America’s largest source of domestically produced and refined silver.