Tuesday, February 12, 2008 9:08:41 AM
Tuesday February 12, 8:30 am ET
Expected to Become World's Largest Pure Silver Mine
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Coeur d’Alene Mines Corporation (NYSE:CDE - News) (TSX:CDM - News) (ASX:CXC - News) announced today that it has begun pre-commissioning activities at its San Bartolomé silver mine, which is expected to produce over ten million ounces of silver during its first twelve months of full-scale operations.
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All major plant equipment at San Bartolomé is now in place. The Company expects the processing facilities to be connected to the national electrical grid during the second half of February, at which point full commissioning of the crushers and mills will commence. Processing of ore is expected to begin during the second half of March. Production and plant utilization will then steadily increase with full plant capacity anticipated to be reached in August.
“In reaching the finish line at the San Bartolomé silver mine, we are very pleased to report the success in completing this world-class project while maintaining the highest standards of safety, quality of construction, and adherence to cost and scheduling,” said Dennis E. Wheeler, Chairman, President and Chief Executive Officer. “Over 1,600 workers, almost all of them Bolivians, have done an excellent job in constructing what will be the world’s largest pure silver mine, surpassing over 3.7 million man hours without a lost time accident, a truly remarkable achievement given the size and scope of this state-of-the-art facility. Coeur is proud of the strong community, government and economic relationships we have developed with the people and organizations of Potosi and Bolivia, and the Company is excited about placing the mine into production and generating value for all stakeholders.”
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