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Coeur: Silver Production Rises, Gold Output Dips In 2018

Kitco News

(Kitco News) - Coeur Mining, Inc. (NYSE: CDE) said late Monday that silver output rose but gold production eased in 2018, with both coming in near the lower end of the company’s guidance range.

Silver output last year was 12.95 million ounces, an 8% rise from the prior year, driven by strong performance at the Rochester and Palmarejo mines, Coeur said. Guidance was 13 million to 14.3 million ounces. Fourth-quarter production climbed 19% from the third quarter to 3.5 million ounces.

Full-year gold output eased 4% in 2018 to 367,728 ounces, although this was within guidance of 363,000 to 382,000 ounces. Production in the October-December period climbed 12% from the prior quarter to 99,460 ounces.

The company also produced 3.1 million ounces of zinc and 1.7 million pounds of lead in 2018. Silver-equivalent production for the full-year was listed at 35.6 million ounces.

The company said it plans to issue 2019 production and cost guidance with its fourth-quarter and full-year 2018 financial results on Feb. 20.

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