Coeur Mining (NYSE: CDE) is completing its announced $1.7 billion all-stock acquisition of Silvercrest Metals, bringing the high-grade, low-cost Las Chispas mine in Sonora, Mexico, into Coeur’s portfolio.
With grades 25 times higher than Coeur’s existing silver sites and costs 35% lower, Las Chispas is expected to significantly boost Coeur’s profitability and production capacity CEO Mitchell J. Krebs told MINING.COM’s host Devan Murugan.
The addition of Las Chipas also elevates the company to one of North America’s top silver producers with an annual output of 21 million ounces of silver and 432,000 ounces of gold, Krebs said.
Krebs hailed Las Chispas as a “money-making asset at almost any silver price,” adding that it supports the company’s focus on high-grade, cost-efficient mining.
Mines such as Las Chispas can play a critical role in sustainable silver supply chains, he noted, as higher-grade deposits often require less energy and water for extraction, potentially lowering the environmental impact of mining.
This acquisition strengthens Coeur’s five-mine portfolio across North America, which now includes three leading silver producing mines: Nevada’s Rochester, Chihuahua’s Palmarejo, and Sonora’s Las Chispas.
Watch the full interview:
