Coeur Mining Records Lower Silver Production in Q3

Coeur Mining Inc. (TSX:CDM,NYSE:CDE) announced that in the third quarter of this year, it produced 4.2 million ounces of silver and 63,763 ounces of gold, down 10 and 5 percent, respectively, from the previous quarter.

As quoted in the press release:

Production at both Palmarejo and San Bartolomé were consistent with the second quarter. Kensington’s gold production increased 25% over the second quarter of 2013 due to an increase in tons milled and higher gold grades. Rochester’s production during the quarter was negatively impacted by the completion of several expansion-related projects, which are expected to lead to significantly higher production levels in the fourth quarter and next year.

Mitchell Krebs, president and CEO, commented:

Our third quarter operating performance demonstrates further consistency at Palmarejo, San Bartolomé, and Kensington, and represents a critical turning point for Rochester. The completion of recent capital investments in the existing heap leach pads and in the operation’s crushing capacity, along with the substantial increase in reserves announced last month, support the high-return, long-term growth profile we expect to achieve at Rochester. Maintaining our full-year total production guidance within the range provided at the beginning of 2013 reflects our enhanced technical and operating capabilities and our ability to better execute against our plan.

Click here to read the full Coeur Mining Inc. (TSX:CDM,NYSE:CDE) press release.