Expanded Rochester Mine achieves mid-year target run rates
Press release
Coeur Mining, Inc. reported that its recently-expanded Rochester silver and gold mine in Nevada successfully completed ramp-up activities at the end of the second quarter by achieving daily throughput rates of more than 80 kt/d (88,000 stpd).
“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 Mitchell J. Krebs, Chairman, President and Chief Executive Officer. “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 3.9 Mt (4.3 million st) of ore were placed on the new Stage 6 leach pad during the second quarter bringing the total tons placed to 14 Mt (15.5 million st). 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 6.3 Mt to 7.2 Mt (7 to 8 million st) 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 29 Mt/a (32 million stpy), making Rochester one of the world’s largest open pit heap leach operations and America’s largest source of domestically produced and refined silver.
The company will report its second quarter 2024 operational and financial results after the New York Stock Exchange closes for trading on Aug. 7, 2024. The Company will be hosting a conference call at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, August 8, 2024.
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with four wholly-owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska and the Wharf gold mine in South Dakota. In addition, the company wholly-owns the Silvertip polymetallic critical minerals exploration project in British Columbia.