Coeur Mining history

In Idaho, however, the silver production levels were sustained better than in most other states, and the company’s share of production grew from 16 percent of the country’s output to 30 percent in 1933.

Comment (Development): The Siderite vein, the main vein of the Mineral Point mining operation was discovered by Coeur d'Alene Mines Corp in 1935.

Reference (Deposit): Hobbs, S. W., And Others, 1965 , Geology Of The Coeur D'Alene District, Shoshone County, Idaho: USGS Prof.

The four companies were major shareholders in Consolidated Silver, a company formed in 1967 to consolidate several mining properties near the Silver Summit mine.

The first orebody in the modern Coeur mine operations was discovered in 1969 by Asarco, Inc.

Reference (Deposit): ENG. MINING JOUR., 1976 , ASARCO'S NEWLY DEDICATED COEUR SILVER MINE WILL BE FOURTH LARGEST IN US: ENG. MINING JOUR., V. 177 , NO. 7 , P. 23 - 27

In 1979 four Idaho silver mining companies had formed a joint venture agreeing to rehabilitate and reopen Consolidated Silver Corporation’s Silver Summit mine and to begin an extensive exploration program on that company’s mining properties.

The company began stockpiling ore in that year when silver sustained a yearly average of $4.63 per ounce, before rising to a high of $5.34 per ounce in 1980.

Reference (Deposit): Hackbarth, C.J., and Petersen, U., 1982, Zoning in veins of the Galena and Coeur mines, Coeur d'Alene mining district, Idaho: Geological Society of America Abstracts with Programs, v.

In 1983 $18 million was raised in Coeur’s first stock offering through a major national firm.

Both Thunder Mountain and the Rochester mines entered production phases in 1986.

After completing their first full year of operations in 1987, both mines exceeded production goals.

Silver prices declined to $3.93 per ounce in 1992, forcing the company to place the Coeur and Galena mines on standby.

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In late 1994, Coeur, Callahan, and Asarco formed Silver Valley, a Delaware corporation, and transferred certain assets, including their interests in the Coeur, Galena, and Caladay mines, to Silver Valley.

The world consumed 162 million more ounces of silver than was produced in 1995, and according to Erick Schonfeld, writing for Fortune, “Each 25-cent rise in the price of silver contributes about a dime to the bottom line of Coeur d’Alene Mines.”

In August 1996, Cyprus filed a counterclaim for an unspecified amount of damages, alleging libel by Coeur in its press release announcing the write-off of the Golden Cross Mine.

Following the hearing the court determined that the crest raising posed no danger to the environment, and the company hopes to implement the previously planned mill optimization and to continue operating the mine at least through 1997.

Comment (Reserve-Resource): Additional resource reported in Coeur d'Alene Mines Corp. annual report for 1998.

Owner Name: Coeur d'Alene Mines Corp Percent: 100.0 Home Office: Coeur d'Alene, Idaho Years: 2000 -

The firm sold its remaining assets in the region in July, 2006.