Coeur Rochester Garners Top Safety Awards as Long-Life Silver/Gold Mine Prepares for Extended Mine Operations and ProductionCOEUR D'ALENE, Idaho, Jul 06, 2010 (BUSINESS WIRE) -- Coeur d'Alene Mines Corporation (NYSE:CDE)(TSX:CDM)(ASX:CXC) announced today that its flagship Rochester mine and employees were recognized with major 2010 safety awards presented for outstanding achievement by the Nevada Mining Association (NVMA). Rochester remains on track to further extend its mine operations later this year, with additional silver and gold recovery beginning in 2011.
The NVMA presented Coeur Rochester its 2010 1st Place Safety Achievement Award for the Open Pit -- Small Mine category. In June, the mine passed a significant safety milestone by operating three years without a lost time accident or reportable incident.
In addition, Coeur Rochester employee Richard Wagner received the NVMA Individual Safety Award given to a safety professional. Rich directs the mine's safety and loss control efforts., He has been with Coeur at the Rochester Mine for over thirteen years, the last six years in safety.
Wayne Maitaalso received the NVMA Individual Safety Award given to a supervisor. Wayne supervises the leach crew. He has been with Rochester for over thirteen years, the last five years as a Leadman/Supervisor.
Rochester has produced over 125 million ounces of silver and over 1 million ounces of gold in 25 years of operations. In 2009, the mine produced 2.2 million ounces of silver and 12,663 ounces of gold. The mine is preparing to mine new ore zones this year which are expected to extend mine life by an additional six years with average additional production of 2.5 million ounces of silver and 33,000 ounces of gold. Silver and gold mineral reserves at the beginning of the year totaled 25.9 million ounces silver and 232,000 ounces gold.
Coeur d'Alene Mines Corporation is one of the world's leading silver companies and also a significant gold producer. Coeur is also a recognized leader in environmental stewardship and worker safety, with nine national and international awards earned over the past year. The Company's three new long-life mines include the San Bartolomé silver mine in Bolivia which began operations in 2008, the Palmarejo silver/gold mine in Mexico, which began operations in 2009, and the Kensington gold mine in Alaska, which began production in June of this year. The Company also owns underground mines in Argentina and one surface mine in Nevada, and owns a non-operating interest in a low-cost mine in Australia. The Company conducts exploration activities in Alaska, Argentina and Mexico. Coeur common shares are traded on the New York Stock Exchange under the symbol CDE, and the Toronto Stock Exchange under the symbol CDM, and its CHESS Depositary Interests are traded on the Australian Securities Exchange under symbol CXC.
This press release contains forward-looking statements within the meaning of securities legislation in the United States, Canada, and Australia, including statements regarding anticipated operating results. Such statements are subject to numerous assumptions and uncertainties, many of which are outside the control of Coeur. Operating, exploration and financial data, and other statements in this presentation are based on information that Coeur believes is reasonable, but involve significant uncertainties affecting the business of Coeur, including, but not limited to, future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, construction schedules, currency exchange rates, and the completion and/or updating of mining feasibility studies, changes that could result from future acquisitions of new mining properties or businesses, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, risks inherent in the ownership and operation of, or investment in, mining properties or businesses in foreign countries, as well as other uncertainties and risk factors set out in filings made from time to time with the SEC, the Canadian securities regulators, and the Australian Securities Exchange, including, without limitation, Coeur's reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by fourth parties in respect of Coeur, its financial or operating results or its securities.
SOURCE: Coeur d'Alene Mines Corporation
Posted: July 6, 2010
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