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Properties San Bartolome - Leading Coeur's Next Generation in Silver Leading Coeur's new growth in silver is San Bartolome, the largest new primary silver mine to be built in the Americas in decades. With construction underway, this major Bolivian silver mine is scheduled for annualized production of more than 8 million ounces of silver. Construction of the open pit milling operation and processing facility is expected to cost approximately $174 million. The new facility could be completed near the end of 2007, with commercial production beginning in January 2008. Cash operating costs are anticipated at $4.00 per ounce in the initial years, which at recent market prices would generate significant cash flow for the Company.
Total proven and probable reserves of more that 150 million ounces of silver are contained in surface gravel deposits, or pallacos, which lend themselves to simple, low-tech surface-mining techniques. Of the several pallaco deposits which are controlled by Coeur and surround Cerro Rico mountain, three are of primary importance and are known as Huacajchi, Diablo (consisting of Diablo Norte, and Diablo Este) and Santa Rita. The facilities will be located near established industrial infrastructure in the historically silver-rich area of Potosí, Bolivia, where more than two billion ounces of silver have been mined. The building of the new mine is expected to generate as many as 1,000 local jobs during construction, and approximately 200 full-time jobs during operations. The project will also establish a foundation, called Fundespo, to assist in the development of new local industries, such as silversmithing and tourism.
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