Precious Metals

Palmarejo mine's gold and silver output increases

Map identifies magnitude of Coeur Mining’s Parmarejo gold and silver mining operations in Mexico.

Image courtesy of Coeur Mining.

Gold and silver production at Coeur Mining’s Palmarejo, Mexico, mining complex yielded higher amounts of the precious metals during the second quarter in 2017 compared to the same period in 2016.

Second quarter 2017 output, however, dropped from the operations’ first quarter 2017 precious metals production.

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The Palmarejo silver and gold complex spans 112,520 acres and comprises the Palmarejo mine and mill; the Guadalupe underground mine, located about eight kilometers southeast of the Palmarejo mine; the Independencia underground mine, located approximately 800 meters northeast of the Guadalupe underground mine; and other nearby deposits and exploration targets. The Palmarejo complex is located in the state of Chihuahua.

2016 production from the complex totaled 4.4 million ounces of silver and 79,813 ounces of gold, with “proven and probable” reserves of 40.8 million ounces of silver and 592,000 ounces of gold.

During the second quarter of 2016, silver output reached 1,350,000 ounces and gold output reached 19,214 ounces. In the second quarter of 2017, silver output reached 1,484,000 ounces, while gold production totaled 25,191 ounces.

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First quarter 2017 production results reached 1,965,000 ounces of silver and 41,045 ounces of gold. Silver output during the first quarter of 2017 was more than double fourth quarter 2016 results, while gold production in the first quarter 2017 nearly tripled 2016’s final quarter output.

Coeur Mining also operates gold and silver mining operations in Rochester, Nev., and Wharf, S.D.; silver mining in San Bartolemé, Bolivia; and gold mining in Kensington, Alaska.

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