(Kitco News) - Coeur Mining is on track to deliver record-breaking production this year, driven in part by its recent acquisition of the high-grade Las Chispas silver mine in Mexico, CEO Mitch Krebs said.
Speaking at the 2025 BMO Global Metals, Mining & Critical Minerals Conference, Krebs told Kitco Mining about the transformative impact of Las Chispas, calling it “one of the highest quality primary silver operations anywhere in the world.” Coeur acquired Las Chispas from SilverCrest in a transaction finalized early this year.
Las Chispas brings a significant boost to Coeur’s silver output, which is expected to reach 20 million ounces in 2025, up from 11 million ounces last year. The mine’s grades are 25 times higher than Coeur’s company average, and its costs per ounce are roughly 40% lower, Krebs said. The mine also adds a pristine balance sheet and immediate cash flow, helping Coeur deleverage its finances faster.
“This was really about quality and about creating a global silver leader,” Krebs said.
The acquisition marks another milestone in Krebs’ tenure at Coeur Mining, which began 30 years ago. Over the past decade and a half, the company has transitioned from its roots in Coeur d’Alene, Idaho, to a Chicago-based headquarters, focusing on higher-quality assets and more disciplined capital investment. Coeur has been producing silver and gold in Mexico for nearly two decades, and the addition of Las Chispas further strengthens its foothold in the region.
“Mexico’s turning out to be a great place to do business just like it’s been for centuries,” Krebs said. “The state governments are very supportive, great communities, great workforce.”
Looking ahead, Coeur aims to leverage its expanded production profile to continue deleveraging, invest in exploration, and potentially return capital to shareholders. With the Las Chispas mine and the Rochester expansion in Nevada driving results, the company expects significant increases in EBITDA and free cash flow, setting a strong foundation for future growth.
“It’s going to be a lot of fun to deliver on that here in 2025 and then see where we can go from there,” Krebs said.
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