San Bartolomé (Bolivia) – One of the World’s Largest Pure Silver Mines
Coeur’s new San Bartolomé mine in Potosi, Bolivia, is one of the world’s newest and largest pure silver mines. In 2009 – its first full year of production – the mine produced 7.5 million ounces of silver at the beginning of its expected 14 year mine life.
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. The current 120 million ounces of silver reserves are hosted in gravel deposits at the base of the mountain which lend themselves to simple, free-digging surface mining techniques that can be extracted without drilling and blasting.
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. Coeur has become and integral part of the community of Potosi by helping re-establish cultural institutions, supporting concerts and art contests for local artisans, funding civic beautification projects
• 2009 production of 7.5 million ounces of silver at an average cash operating cost of $7.80 per ounce compared to 2008 production of 2.9 million ounces of silver at an average cash operating cost of $8.22 per ounce.
• During the fourth quarter 2009, the Company adjusted its mine plan to operate below 4400 meters in order to deal with a temporary government suspension of mining above that elevation.
• Due to this temporary suspension and the Company’s subsequent adjustment to its mine plan to the ore deposits above 4,400 meters above sea level, San Bartolomé produced 1.3 million ounces of silver at an average cash operating cost of $10.40 per ounce during the fourth quarter of 2009, compared with 2.1 million ounces of silver at an average cash operating cost of $7.63 per ounce during the third quarter of 2009.
• The Company anticipates this temporary suspension to be lifted, and holds rights to mine above this elevation under valid contracts backed by Supreme Decree with COMIBOL, as well as contracts with local mining cooperatives who hold their rights through COMIBOL.
| Stage | Production |
| Location | Potosi, Bolivia |
| Type | Open Pit – Gravel deposits |
| Metals Produced | Silver |
| Product | Silver Doré |
