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Coeur starts commercial production at its new Silvertip operation
Coeur Mining announces that it declared commercial production effective September 1, 2018 at its new highgrade Silvertip silver-zinc-lead mine located in northern British Columbia, Canada.
“The commencement of commercial production at Silvertip is a significant milestone,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “We completed the acquisition of Silvertip in October 2017 and commenced production in March after successfully commissioning the mill. Since then, our team has been focused on optimizing plant performance and on upgrading the mine’s infrastructure. We continue to be excited about the impact Silvertip is expected to have on our production, margins and cash flow beginning next year.”
“Optimization efforts at Silvertip will continue over the next several quarters, with processing rates ontrack to average 750 tonnes per day (“mtpd”) by year-end and reach 1,000 mtpd in early 2019. We remain on-track to publish an initial NI 43-101 Technical Report in the fourth quarter and expect to receive approval of the permit amendment application to operate at 1,000 mtpd around year-end.”
Silvertip mine is one of the industry’s newest and highest-grade silver-zinc-lead mines. Located in British Columbia, just below the Yukon border, the operation sits within a highly prospective 93,000-acre (37,650 hectares) land package. Silvertip was acquired by Coeur Mining in October 2017.