Day: August 4, 2015

“In the second quarter we achieved the strongest financial performance in two years despite the weakest realized silver and gold prices over this time frame,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “With nearly every mine outperforming initial cost and production targets, we are raising our production guidance and lowering our cost guidance for 2015. The notable exception is San Bartolomé, where July production was impacted by political disruptions in Bolivia, but is now fully operational.

Southern Copper Corporation, a subsidiary of Grupo Mexico, bought the mine called El Pilar, located in Sonora, for $100 million.

Southern Copper Corporation, filial de Grupo México, compró por 100 millones de dólares la mina llamada El Pilar, ubicada en Sonora.

“We are pleased to have Lake Shore as a significant shareholder in IDM, and are grateful for a positive settlement of future liabilities related to legacy properties in Mexico,” said Michael McPhie, Executive Chairman of IDM Mining. “Lake Shore’s track record in operating a successful gold mine through challenging markets will benefit IDM as we advance the Red Mountain Gold Project through advanced engineering and the permitting process.”

La minera de plata y oro Fresnillo Plc dijo que recortaría su gasto planeado de capital para el 2015 a 570 millones de dólares, afectada por la volatilidad de los precios de los metales.

Octavio Alvídrez, Chief Executive Officer of Fresnillo plc, said: “We have had a solid first half operationally, with silver and gold production up 11% and 37% respectively. Saucito drove the increase in silver production, with the ramp up of Saucito II achieved well ahead of the three year timeframe initially anticipated. The increase in gold production was driven by Herradura and its dynamic leaching plant being fully operational throughout the period. We continue to advance development rates at Fresnillo, which should result in increased production by the year end, and we remain on track to reach steady state production at Herradura in the fourth quarter. I am confident that we are well-placed to meet our 2015 production guidance of 45-47 million ounces of silver (including the Silverstream) and our increased 2015 gold production guidance of 715-730 thousand ounces.”