NYSE-listed miner Coeur Mining has maintained its production guidance for the year, despite reporting lower third-quarter production results, at 8.5-million ounces of silver equivalent.
The company, which owns mines in Mexico, the US and Canada, produced 2.9-million ounces of silver, 88 833 oz of gold, 2.2-million pounds of zinc and 1.2-million pounds of lead in the quarter ended September 30.
This compares with 9.1-million ounces of silver equivalent in the second quarter of 2018 and 8.6-million ounces of silver equivalent in the comparable period of 2017.
Coeur stated on Tuesday that it still expected to meet its guidance of 36.1-million to 39.5-million ounces of silver equivalent, consisting of 13-million to 14.3-million ounces of silver, 363 000 oz to 382 000 oz of gold, 13-million to 23-million pounds of zinc and 11-million to 18-million pounds of lead.
The guidance was revised last month, following improved visibility of production from the Silvertip mine, which entered commercial production on September 1.
Metal sales for the third quarter came to 3-million ounces of silver, 89 609 oz of gold, 1.8-million pounds of zinc and 1.6-million pounds of lead.
In Mexico, the Palmarejo mine’s silver-equivalent production was 3.2-million ounces, compared with 4.7-million ounces in the previous quarter and 4.1-million ounces in the prior-year quarter. Production was impacted by the temporary suspension of mining activities relating to fatalities, supply chain disruptions stemming from road blockades and weather-related interruptions.
In the US, the Nevada-based Rochester mine increased its silver-equivalent production by 17% quarter-on-quarter to 2.2-million ounces, the Wharf, in South Dakota, delivered 14% less gold production output, in a quarter-on-quarter basis, at 19 646 oz and Kensington, in Alaska, increased by 5% quarter-on-quarter to 26 809 oz.
Silvertip, in British Columbia, produced 286 000 oz of silver equivalent in the third quarter, comprising 96 000 oz of silver, 2.2-million pounds of zinc and 1.2-million pounds of lead.