Coeur Manquiri Receives Assurance from Morales Administration That San Bartolom?ot Subject to Nationalization
Coeur d′Alene Mines Corporation (NYSE:CDE)(TSX:CDM) today announced that
it has received assurances from the Morales Administration in Bolivia
that its San Bartolom?ine is not subject to any proposed
nationalization in Bolivia.
'During a meeting Thursday with Bolivian Mining Minister Jose Pimentel,
the Minister assured Coeur Manquiri and members of the Federation of
Mining Workers Trade Union (FSTMB) that Manquiri will not be
nationalized,? said Humberto Rada, President of Coeur South America and
Coeur Manquiri, the subsidiary of Coeur that operates San Bartolom?
Coeur has maintained that its property rights at San Bartolom?re not
the subject of expropriation. The Company operates the mine in Potosi
where title already belongs to Bolivia and backed by Presidential
Supreme Decree.
All surface mining and silver production at San Bartolom?re operating
as usual. The labor unions working with San Bartolom?anagement have
openly denounced any nationalization and expressed their support of
Manquiri as have the mining Cooperatives in Potosi, who are a strong
social and political influence in Bolivia.
About Coeur
Coeur d′Alene Mines Corporation is the largest U.S.-based primary silver
producer and a growing gold producer. The Company has three new, large
precious metals mines generating significantly higher production, sales
and cash flow in continued strong metals markets. In 2011, Coeur will
realize the first full year of production and cash flow from all three
of its new, 100%-owned mines: San Bartolom?n Bolivia; the Palmarejo
silver/gold mine in Mexico, and the Kensington Gold Mine in Alaska. In
addition, the Company is expecting new production from its long-time
flagship Rochester mine in Nevada. The Company also owns non-operating
interest in a low-cost mine in Australia, and conducts ongoing
exploration activities near its operations in Argentina, Mexico and
Alaska.
Cautionary Statement
This press release contains forward-looking statements within the
meaning of securities legislation in the United States and Canada,
including statements regarding anticipated operating results. Such
statements are subject to numerous assumptions and uncertainties, many
of which are outside the control of Coeur. Operating, exploration and
financial data, and other statements in this presentation are based on
information that Coeur believes is reasonable, but involve significant
uncertainties affecting the business of Coeur, including, but not
limited to, future gold and silver prices, costs, ore grades, estimation
of gold and silver reserves, mining and processing conditions,
construction schedules, currency exchange rates, and the completion
and/or updating of mining feasibility studies, changes that could result
from future acquisitions of new mining properties or businesses, the
risks and hazards inherent in the mining business (including
environmental hazards, industrial accidents, weather or geologically
related conditions), regulatory and permitting matters, risks inherent
in the ownership and operation of, or investment in, mining properties
or businesses in foreign countries, as well as other uncertainties and
risk factors set out in filings made from time to time with the United
States Securities and Exchange Commission, and the Canadian securities
regulators, including, without limitation, Coeur′s reports on Form 10-K
and Form 10-Q. Actual results, developments and timetables could vary
significantly from the estimates presented. Readers are cautioned not to
put undue reliance on forward-looking statements. Coeur disclaims any
intent or obligation to update publicly such forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, Coeur undertakes no obligation to comment on analyses,
expectations or statements made by third parties in respect of Coeur,
its financial or operating results or its securities.
Coeur d′Alene Mines Corporation
Chief Financial Officer
Mitchell
Krebs, 208-769-8152
or
Director of Corporate Communications
Tony
Ebersole, 208-665-0777