Coeur’s newly expanded Rochester mine hits stride
NYSE-listed Coeur Mining’s recently expanded Rochester silver and gold mine, in Nevada, has successfully completed ramp-up activities at the end of the second quarter by achieving daily throughput rates of over 88 000 t/d.
“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 chairperson, president and CEO Mitchell J. Krebs on Thursday.
“The team has worked tirelessly to complete the ramp-up and will now turn its focus to a range of optimisation efforts while establishing an operating rhythm at the higher mining, crushing, and placement rates now being achieved.”
About 4.3-million tons of ore were placed on the new Stage 6 leach pad during the second quarter 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-million to 8-million tons a quarter during the second half of the year and into 2025.
At full capacity, throughput levels are expected to be about 2.5 times higher than historical levels, or about 32-million tons a year, making Rochester one of the world’s largest openpit heap leach operations and largest source of US-produced and -refined silver.
Coeur will report its second quarter 2024 operational and financial results after the NYSE closes for trading on August 7.
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