Coeur d’Alene Mines

Incorporated in 1928, Coeur d’Alene Mines Corporation (Coeur) is focused mainly on silver produce, with a smaller share of gold, lead, and zinc operations. Its top headquarters are based in Coeur d’Alene, Idaho. The overall silver production for 2008 was reported to be 12 million ounces. Coeur has establishments on four continents - North America, in the US (more precisely in Nevada and Alaska) and Mexico (Chihuahua), South America (in Chile, Argentina, and Bolivia), Australia (specifically New South Wales) and Africa.

The miner is a mid-tier producer. Its common stock shares are listed on the New York Stock Exchange under the symbol CDE and on the Toronto Stock Exchange under the symbol CDM. Its CHESS Depositary Interests are listed on the Australian Securities Exchange under the symbol CXC. CDE has listed 75.40 million outstanding shares. Furthermore, Coeur had a market capitalization of approximately $800 million as of June 24, 2009. With its 248 million ounces of proven and probable silver reserves and 2.3 million in gold reserves, the miner is undisputed leader among the primary silver producers. Either directly or via subsidiaries, fully controlled by the mother company, the corporation owns, leases, or has interests in exploration mining operations in the United States, Chile, Argentina, Bolivia, Mexico, and Tanzania. Coeur wholly owns, either directly or indirectly, Empresa Minera Manquiri S.A. (Manquiri), and 100 percent of the capital stock of Coeur Argentina S.R.L..

Coeur Manquiri manages the San Bartolome open pit silver mine: the world’s largest pure silver mine, which is located in the Cerro Rico Mountain, near the town of Potosi. The mine’s mineral rights are held by a joint venture and lease agreements, signed with several third-party mining cooperatives and the Bolivian State Mining Company (COMBOL). Silver production during the second quarter of 2009 was 1.9 million ounces with $ 7.37 of cash operating costs per ounce. For the first 6 months of 2009, the operation produced 4.0 million ounces at average operation costs of $ 7.04 per ounce. The estimated production, in millions of silver ounces for 2009, amounts to nine (9).

Coeur Argentina S.R.L is the owner and operator of the Martha silver mining site, in Santa Cruz, Argentina. This underground high-grade silver mine has produced approximately 2.7 million ounces of silver and 3,313 ounces of gold in 2008. The cash cost per ounce of silver stands at $ 7.57. In 2009, Coeur Argentina continues its exploration activities related to new mineralization and reserve development across its vast land holdings in the Argentinean province. The expected silver contribution of Martha for 2009 is 3 million ounces. The mine was first purchased in 2002 and since then, the site has produced over 15 million silver ounces.

Compania Minera Cerro Bayo Ltd. (CMCB) holds the full rights over the Cerro Bayo property in Chile, and is in turn fully owned by Coeur. The company controls other concessions in Chile as well; the miner also entered into agreement for an option to purchase 100 percent of the Huantajaya silver property in northern Chile. Development and mining of gold and silver in Cerro Bayo is expected to re-start in 2010.



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