Coeur Mining has announced production of 4.6 million oz of silver and 60,757 oz of gold during Q2 2013, each reflecting increases of 21% for silver and 7% for gold over Q1, respectively. Production of silver and gold at the Palmarejo mine in Mexico, meanwhile, increased 24% and 23%, respectively, over Q1 2013.
The company also reaffirmed full-year 2013 consolidated production guidance of 18 million to 19.5 million oz of silver and 250,000 to 265,000 oz of gold, as Coeur CEO Mitchell Krebs voiced extreme enthusiasm. “Operating consistency is a key priority for Coeur and we’re making solid progress, especially in response to lower silver and gold prices,” he said.
As a result, several company-wide capital projects have been deferred, cost reviews are under way and 15% of Coeur’s exploration budget has been reallocated to nearer-term, higher-grade targets, Krebs added. “Our mine plans at each operation are being reviewed and optimized,” he said.
In 2013, Coeur officials also anticipate overall higher-than-planned silver production from their San Bartolomé project in Bolivia with gold production from Palmarejo to offset lower silver and gold production from Rochester in Nevada.