Development

San Bartolome - Leading Coeur's Next Generation in Silver

Our new San Bartolomé mine in Potosi, Bolivia, with more than 6 million ounces of planned silver production this year, is the world’s newest and largest pure silver mine. But more than that, it is a testament to the successful cooperation that is possible in the development of a resource, which benefits all of the stakeholders involved.

The mine lies at the base of the famous Cerro Rico mountain near Potosi, a town of 200,000 people at an elevation of 14,000 feet in the Andes Mountains of Bolivia. Power to San Bartolomé is provided from the national grid system.

As the mine progressed to its 2008 startup, the project represents the efforts of more than 1,600 workers, almost all of them Bolivians, who constructed this state-of-the art facility while safely surpassing 4 million man hours without a lost time accident. This is a worker-safety record that stands against any project anywhere in the world.

Coeur Manquiri has forged strong relationships with the Bolivian State Mining Company (COMIBOL) and with the local mining cooperatives, which lease the mining concessions for San Bartolomé and provide much of the workforce. But the relationship is also with the community of Potosi, where we have played an integral, supportive role beyond employment. Coeur has become part of the community by helping re-establish cultural institutions, supporting concerts and art contests for local artisans, funding civic beautification projects, even helping sponsoring a young woman athlete at the Special Olympics in Beijing, China.

San Bartolomé reserves, contained in pallaco and sucu deposits at the base of Cerro Rico, total 153 million ounces of silver, enough for at least 14 years of production.The mine in the operations phase employs 250 workers. In 2008, the mine is expected to produce approximately six million ounces of silver. Operating cash costs once the plant reaches full-scale operations in August through the end of the year are expected to be $4.10 per ounce of silver (excluding royalties and production taxes of $2.03 per ounce).

San Bartolomé is truly a success story for Coeur and our partners in Bolivia.

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San Bartolome - construction progress photos